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338 Cedar Avenue

338 Cedar Avenue,Long Beach, CA 90802

17

Unit

$4,500,000

Price

Property Details

Price Per Unit

$264,706

Price per SF

$443

Current Cap Rate

5.62%

Market Cap Rate

6.27%

Current GRM

11.42

Market GRM

10.57

338 Cedar Avenue

338 Cedar Avenue,Long Beach, CA 90802

$4,500,000

Price

Property Details

Price per SF

$443

Price Per Unit

$264,706

Price per SF

$443

Current Cap Rate

5.62%

Market Cap Rate

6.27%

Unit

17

Current GRM

11.42

Market GRM

10.57

Description

338 Cedar Avenue is a 17-unit apartment asset in Downtown Long Beach. The property is offered at 11.42 GRM on current rents.

The property is comprised of (2) three-bedroom units, (5) two-bedroom units, and (10) one-bedroom units.

All of the units have been fully remodeled with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathroom vanities, tiling, and modern fixtures and features throughout. All renovated units offer in-unit washers and dryers.

The property is located in prime Downtown Long Beach, steps from a plethora of retail and dining amenities as well as the $520M, 22-acre Civic Center redevelopment, and a two-minute walk to the Metro A Blue Line Pacific Station stop.

Highlights

  • Priced at 11.42 GRM on Current Rents
  • All Units Fully Renovated w/ In-Unit Washer/Dryers
  • Attractive Mix of 1BD, 2BD and 3BD Units
  • Secured Access Building
  • Prime Downtown Long Beach Location
  • Steps Away from Metro Transportation

Map

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