1526 Cedar AVE new Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90813
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Washington District
MLS Listing ID SB25233154
HOA Y/N No
Year Built 1926
Lot Size 7,736 Sqft
Property Sub-Type Apartment
Property Description
1526 Cedar Avenue is a six-unit multifamily asset located in the Washington District of Long Beach, offering investors a true value-add opportunity with multiple paths to increase income and long-term value. Sitting on a large 7,735 square foot lot, the property provides the potential to add an ADU by converting the detached garages or utilizing the middle section of the lot, which would significantly boost future income (Buyer to Verify). In addition, the building features one vacant unit that allows a new owner to capture market rent immediately, while the property overall offers approximately 21.5% rental upside. The unit mix consists of (1) two-bedroom, one-bath unit and (5) one-bedroom, one-bath units. The property is also well-positioned near George Washington Middle School, which is currently undergoing a $175 million modernization project that will drive continued neighborhood improvement and tenant demand. Altogether, 1526 Cedar presents investors with the chance to capitalize on immediate income growth, long-term development potential, and the benefits of a rapidly gentrifying area.
Location
State CA
County Los Angeles
Area 5 - Wrigley Area
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Sidewalks,Urban
Total Parking Spaces 10
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7269002009
Acceptable Financing Cash,Cash to New Loan,Conventional,1031 Exchange
Listing Terms Cash,Cash to New Loan,Conventional,1031 Exchange
Special Listing Condition Standard