1960 Cedar Avenue
Long Beach, CA 90806
- – beds
- – baths
- – sqft
- 8,129 sqft lot
- 1944 build
- – on site
Located in the desirable Wrigley area of Long Beach, 1960 Cedar Ave. is a well-maintained 11 unit garden style apartment building comprised of (2) 3bd/1bth units, (6) 2bd/1bth units, (2) 1bd/1bth units, (1) studio, and 5 single car garages. Originally built in 1944, and consisting of 7,088 rentable square feet on a large 8,129 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 $236,365 per unit, and $366.82 per SF, 5.61% CAP RATE on current rents, with room to increase rents. Realistic MARKET CAP RATE of 7.10%. 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 1960 Cedar Ave. Can be purchased with the 10 units listed at 1880 Cedar Ave.!
Last checked:
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Last updated Nov 18, 2024
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MLS# PW24203754 —
The Building
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Year Built:1944
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Year Built Source:Assessor
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New Construction:No
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Entry Level:1
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Common Walls:No Common Walls
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Building Area Total:7088.00
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Building Area Units:Square Feet
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# of Buildings:1
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Total Number Of Units:11
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Stories Total:2
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# of Separate Gas Meters:12
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# of Separate Water Meters:1
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# of Separate Electric Meters:12
Interior
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Levels:Two
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Entry Location:1
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Fireplace:No
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Fireplace:None
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Laundry:Common Area
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Laundry:1
Location
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Directions:Cedar Ave. and PCH
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Latitude:33.79278400
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Longitude:-118.19471300
The Property
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Property Type:Residential Income
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Subtype:Commercial/Residential
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Zoning:LBR2N
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Lot Features:Rectangular Lot
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Lot Size Area:8129.0000
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Lot Size Acres:0.1866
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Lot Size SqFt:8129.00
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Lot Size Source:Assessor
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Block:4
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Tax Census Tract:5730.04
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Tax Tract:5730
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Tax Lot:9
The Listing
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Special Listing Conditions:Standard
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Parcel Number:7209023011
Heating & Cooling
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Heating:1
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Heating:Wall Furnace
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Cooling:No
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Cooling:None
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Subdivision:Wrigley Area (WR)
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Subdivision:Wrigley Area (WR)
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Senior Community:No
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Features:Sidewalks
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Pool:None
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Private Pool:No
Parking
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Parking:Yes
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Parking:Assigned
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Parking Spaces:5.00
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Garage Spaces:5.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
11/18/24
Nov 18, 2024
|
Listed / Active | CRMLS_CA | $2,600,000 | |
|
11/11/24
Nov 11, 2024
|
Sold Subject To Contingencies | CRMLS_CA | $2,600,000 | |
|
10/2/24
Oct 2, 2024
|
Listed / Active | CRMLS_CA | $2,600,000 |
