1467 Cedar Ave
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1467 Cedar Ave
12 Unit Apartment Building $2,800,000 ($233,333/Unit) 4.50% Cap Rate Long Beach, CA 90813
Investment Highlights
- Value-Add Opportunity - Current Rents are Approx. 32% Below Market Level
- ADU Opportunity - Option to Convert Existing Garage into Additional Unit(s)
- Desirable Long Beach Location (Walk Score: 84) - Less than 2-Miles from the Beach & Downtown Long Beach
- Located in an Opportunity Zone
- One- & Two-Bedroom Units
Executive Summary
1467 Cedar Ave. is a 12-unit value-add asset located in Long Beach. The property offers one- & two-bedroom floor plans and option to convert existing garages into additional unit(s).
Property Facts
| Price | $2,800,000 | Property Subtype | Apartment |
| Price Per Unit | $233,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 4.50% | Building Size | 6,731 SF |
| Gross Rent Multiplier | 12.36 | No. Stories | 2 |
| No. Units | 12 | Year Built | 1963 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Price | $2,800,000 |
| Price Per Unit | $233,333 |
| Sale Type | Investment |
| Cap Rate | 4.50% |
| Gross Rent Multiplier | 12.36 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 6,731 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,459 | 605 |
| 2+1 | 8 | $1,659 | 805 |
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Walk Score ®
Very Walkable (84)
Bike Score ®
Very Bikeable (83)
PROPERTY TAXES
| Parcel Number | 7269-041-012 | Improvements Assessment | $331,868 |
| Land Assessment | $156,535 | Total Assessment | $488,403 |
PROPERTY TAXES
Parcel Number
7269-041-012
Land Assessment
$156,535
Improvements Assessment
$331,868
Total Assessment
$488,403
zoning
| Zoning Code | LBR4N |
| LBR4N |
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1467 Cedar Ave
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