$1,850,000
FOR SALEActive833 Cedar
Long Beach CA 90813
6,494
SF
Multi-Family
Type
1931
Built
$285/SF
Cost/SF
Listing Agent
Denise Reesha
DRE #: 01411207
Brokerage: Keller Williams Pacific Estate
Location Analysis
About This Property
Great income at 9% cap rate! Beautiful Craftsmen Available in Downtown Long Beach! Discover an exceptional investment opportunity at 833 Cedar Avenue, a prominent 8-unit apartment building located in the heart of Long Beach. This unique multifamily property, just 5 minutes from the beach, boasts two buildings with a total of 6,494 square feet situated on a generous 7,506 square foot lot, offering significant rental income potential. Recent upgrades enhance this property's appeal, including 100% new plumbing installed three to four years ago and new vinyl windows throughout. The conversion to electric heaters means tenants now cover their own heating costs, as they pay for electricity. Strategically zoned LBPD10, this property benefits from one of Long Beach's most desirable and flexible planning districts, allowing for higher density development. This prime location provides residents with excellent access to downtown Long Beach amenities, including diverse dining, entertainment, shopping, and public transportation options. With its robust unit count, considerable square footage, advantageous zoning, and recent improvements, 833 Cedar Avenue is an ideal acquisition for investors seeking a strong performing asset with potential for future upside in a dynamic Long Beach market.
Property Information
Property Overview
Commercial - MultiFamily
Property Type
Active
Status
LBPD10
Zoning
0.1723 acres
Lot Size
8
Total Units
6,494 SF
Square Footage
$284.88/SF
Price per SF
9.00%
Cap Rate
$166K
NOI
$14,854
Annual Tax
1,931
Year Built
2
Stories
4
Parking Total
0.62
Parking Ratio
Property Highlights
N/A Property
Prime Location with High Visibility
9% Cap Rate
Location Analysis
Building Details
Zoning & Use
Parking & Access
Utilities & Systems
Investment Metrics
9.00%
Cap Rate
$166,462
NOI
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Closed commercial sales reported, newest first.
CRMLS
MLS# DW26015025
Listed:
Nalren refreshed:
Last updated
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Listed by: Keller Williams Pacific Estates
Equal Housing Opportunity
Advertising Broker: Nalren Corp (CA DRE #02423715)
Licensed in the state of California
Nalren Corp (CA DRE #02423715) is the Advertising Broker for this IDX display. We are not the listing broker for this property. The listing broker/agent information is shown above. Contact the listing agent for inquiries.