619 Cedar Avenue Unit 1, 3, 4, Long Beach, CA 90802

$600,000
List Price
$600,000
Status
ACTIVE
MLS#
OC24078744
Year Built
1955
Lot Size
7,501
Acres
0.17
Lot Location
Near Public Transit
Days on Market
39
Property Type
Multifamily
Property Sub Type
Own Your Own
Neighborhood
Downtown (Dt)

Property Description

Discover a prime opportunity in the heart of Downtown Long Beach with this unique offering of three Own-Your-Own units at 619 Cedar Avenue. This bundle includes two studio apartments and a single 1-bedroom unit. Perfectly positioned within walking distance to Pine Avenue's vibrant dining and entertainment scene, and close to metro rail services, these units are primed for solid rental demand. Currently, rents are below market value, offering significant upside potential with a proforma cap rate of 6.5%. Ideal for those looking to capitalize on Long Beach's dynamic rental market, these units present a chance to secure a low-maintenance property with a high return on investment.

Additional Information

Pool Description
None
Sewer
Public Sewer
Water
Public
Attached Structure
Attached
Number Of Units Total
3
Gross Scheduled Income
$47,340
Operating Expense
7756

Listing courtesy of Listing Agent: Mark Kelaidis (Mark.Kelaidis@evrealestate.com) from Listing Office: Pacific Sotheby's Int'l Realty.

Mortgage Calculator

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Calculator source: Real Geeks

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.