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1880 Cedar Avenue

Long Beach, CA 90806

– beds
– baths
– sqft
7,957 sqft lot
1954 build
– on site

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 a key driver in the continued growth and success at 1880 Cedar Ave.

Listed By CRMLS_CA / Spencer Pabst / Pabst, Kinney & Associates / 562-884-6875

Last checked: Checking… • Last updated Nov 18, 2024 •

MLS# PW24203525 —

The Building

Year Built:

1954
Year Built Source:

Assessor
New Construction:

No
Entry Level:

1
Common Walls:

No Common Walls
Building Area Total:

7358.00
Building Area Units:

Square Feet
# of Buildings:

1
Total Number Of Units:

10
Stories Total:

2
# of Separate Gas Meters:

11
# of Separate Water Meters:

1
# of Separate Electric Meters:

11

Interior

Levels:

Two
Entry Location:

1
Fireplace:

No
Fireplace:

None
Laundry:

Common Area
Laundry:

1

Location

Directions:

PCH and Cedar Ave.
Latitude:

33.79138300
Longitude:

-118.19472500

The Property

Property Type:

Residential Income
Subtype:

Commercial/Residential
Zoning:

LBR2N
Lot Features:

Rectangular Lot
Lot Size Area:

7957.0000
Lot Size Acres:

0.1827
Lot Size SqFt:

7957.00
Lot Size Source:

Assessor
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Census Tract:

5730.04
Tax Tract:

5730
Tax Lot:

15

The Listing

Special Listing Conditions:

Standard
Parcel Number:

7209022004

Heating & Cooling

Heating:

1
Heating:

Wall Furnace
Cooling:

No
Cooling:

None

Utilities

Sewer:

Private Sewer
Water Source:

Public

The Community

Subdivision:

Wrigley Area (WR)
Subdivision:

Wrigley Area (WR)
Senior Community:

No
Features:

Sidewalks
Pool:

None
Private Pool:

No

Parking

Parking:

Yes
Parking:

Assigned
Parking Spaces:

7.00
Garage Spaces:

7.00

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price
11/18/24 Nov 18, 2024	Listed / Active	CRMLS_CA	$2,300,000
11/11/24 Nov 11, 2024	Sold Subject To Contingencies	CRMLS_CA	$2,300,000
10/2/24 Oct 2, 2024	Listed / Active	CRMLS_CA	$2,300,000

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This multifamily located in South Wrigley, Long Beach, CA 90806 is currently for sale for $2,300,000. 1880 Cedar Avenue is a – square foot multifamily with – beds and – baths that has been on Estately for 50 days. 1880 Cedar Avenue is in the South Wrigley neighborhood of Long Beach and has a WalkScore® of 86, making it very walkable. This multifamily is in the attendance area of Cabrillo High School, Washington Middle School, and Lafayette Elementary School.

Listing Courtesy of: CRMLS_CA and Pabst, Kinney & Associates. Based on information from California Regional Multiple Listing Service, Inc. as of 22:13 on Nov 21.

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.