Residential Income — 2059 Cedar Avenue, Long Beach, CA
$2,525,000
2059 Cedar Avenue, Long Beach, CA
About this property
2059 Cedar Avenue is a 14-unit multifamily property located in Long Beach, California. Built in 1931, 2059 Cedar Avenue features distinctive Spanish Revival-style architecture characterized by its stucco exterior, clay tile roof, arched openings and period architectural detailing. The 2-story property features a unit mix of 6 studios and 8 1-bed/1-bath units totaling approximately 9,399 rentable square feet. Residents enter through a controlled-access main entrance that opens to an interior hallway system serving the individual residences, a layout characteristic of apartment buildings from this era. The property offers several amenities that provide value to both residents and ownership. An on-site laundry facility gives residents the convenience of laundry within the building while generating additional property income. The 4 garage parking spaces are particularly valuable in Long Beach’s dense residential environment, providing residents with dedicated off-street parking while also enhancing the property’s rental income. Current ownership reports copper plumbing and electrical improvements, along with updates to kitchens and bathrooms throughout the property. Units have also received various improvements as they have turned over through the years, with stainless-steel appliances among the upgrades found in select residences. Combining classic 1930s architecture with updated interiors, building-system improvements and incomeproducing resident amenities, 2059 Cedar Avenue offers investors the opportunity to acquire a distinctive Long Beach multifamily asset with numerous capital improvements already completed under current ownership.
Property details
Location
2059 Cedar Avenue • Long Beach, CA 90806
Listed by
Tyler Leeson · Marcus & Millichap RE Invest
Nearby listings in Long Beach, CA
- 2075 E Appleton Street 27, Long Beach, CA · $349,999
- 615 E Broadway 203, Long Beach, CA · $2,100/mo
- 1200 E Ocean 57, Long Beach, CA · $525,000
- 6020 Ocean Boulevard, Long Beach, CA · $3,440,000
- 7890 E Spring Street 17P, Long Beach, CA · $429,750
- 707 W 4th 7, Long Beach, CA · $385,000
- 801 Alamitos Avenue, Long Beach, CA · $1,599,000
- 2332 E 17th 101, Long Beach, CA · $379,999
- 4409 E 10th Street, Long Beach, CA · $1,125,000
- 3565 Linden 237, Long Beach, CA · $339,999
- 811 Ohio, Long Beach, CA · $1,850,000
- 1067 N Norman Court, Long Beach, CA · $799,000