Property Details
About this Property
Located in the desirable Wrigley area of Long Beach, 1880 Cedar Ave. is a well-maintained 10 unit garden style apartment building comprised of (3) 2bd/1bth units, (6) 1bd/1bth units, (1) studio, and 7 single car garages. Originally built in 1954, and consisting of 7,358 rentable square feet on a large 7,957 square foot lot. The property is separately metered for gas and electricity, and features gated entry, vinyl pane windows, and community laundry. Priced attractively at $230,000 per unit, and $312.58 per SF, 5.55% CAP RATE on current rents, with room to increase rents. Realistic MARKET CAP RATE of 6.83%. An attractive opportunity for a new owner! The property is in an excellent location in the South Wrigley neighborhood of Long Beach. Residents enjoy convenient access to everyday needs at Wrigley Market, an Albertsons anchored retail center located blocks from the property. Additionally, 1880 Cedar is just over 1.75 miles from the abundance of retail, dining, and entertainment options in Downtown Long Beach. It also benefits from its optimal location near Willow Street, Pacific Coast Highway, and 405 and 710 freeways, providing residents easy access to employment hubs throughout Southern California. The overall demand for well-located and maintained apartment building will be
MLS Listing Information
MLS #
CRPW24203525
MLS Source
California Regional MLS
Days on Site
83
Interior Features
Cooling
None
Heating
Wall Furnace
Parking, School, and Other Information
Garage/Parking
Assigned Spaces, Garage: 7 Car(s)
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | 10 | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
1880 Cedar Ave is a Residential Income in Long Beach, CA 90806. This – square foot property sits on a 7,957 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $2,300,000 and was built in 1954. This address can also be written as 1880 Cedar Ave, Long Beach, CA 90806.
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This listing information is up-to-date as of December 19, 2024. For the most current information, please contact Spencer Pabst
