1924 Cedar Avenue, Long Beach, CA 90806
  • MLS#: PW25191546 ( Apartment )
  • Street Address: 1924 Cedar Avenue
  • Viewed: 3
  • Price: $2,075,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1932
  • Bldg sqft: 0
  • Days On Market: 64
  • Additional Information
  • County: LOS ANGELES
  • City: Long Beach
  • Zipcode: 90806
  • Subdivision: Wrigley Area (wr)
  • Provided by: Sage Real Estate Group, Inc.
  • Contact: Cody Cody
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    Spanish style 8 unit apartment building located in the South Wrigley neighborhood of Long Beach. The property recently received a full exterior refresh and the interiors have been renovated at different times over the past five years. The building is in good condition with strong in place rents, offering stable income and future upside. The property includes 8 garages at the rear that are currently unused and offer a new owner several opportunities to add value. A new owner could: Lease the garages for extra parking income, Convert the garages into ADUs, or take advantage of SB 1211, which may allow up to 8 new ADUs on the site (buyer to verify). If developed, 8 new studio ADUs rented at $1,500/month could add $144,000 in gross annual income. This property offers classic curb appeal, updated interiors, steady cash flow, and multiple opportunities to increase revenue.
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Features
Architectural Style
  1. Spanish
Association Fee
  1. 0.00
Building Area Total
  1. 5112.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 2+ Common Walls
Cooling
  1. None
Country
  1. US
Electric Expense
  1. 0.00
Entry Location
  1. Front
Fireplace Features
  1. None
Fuel Expense
  1. 0.00
Garage Spaces
  1. 8.00
Heating
  1. Wall Furnace
Insurance Expense
  1. 0.00
Laundry Features
  1. Common Area
Laundry Income
  1. 0.00
Levels
  1. Two
Lockboxtype
  1. None
Lot Features
  1. 6-10 Units/Acre
Netoperatingincome
  1. 113628.00
Newtaxesexpense
  1. 25938.00
Otherexpensedescription
  1. See OM
Parcel Number
  1. 7209023019
Pool Features
  1. None
Postalcodeplus4
  1. 5337
Professionalmanagementexpense
  1. 10432.00
Property Type
  1. Apartment
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 445872315:CRM
Spa Features
  1. None
Subdivision Name Other
  1. Wrigley Area (WR)
Totalactualrent
  1. 15251.00
Totalexpenses
  1. 60234.00
Trash Expense
  1. 0.00
Vacancyallowance
  1. 9151
View
  1. None
Water Sewer Expense
  1. 0.00
Water Source
  1. Public
Year Built
  1. 1932
Year Built Source
  1. Assessor
Zoning
  1. LBR2N