True Pride of ownership 6-unit building located at 2011Cedar Ave, Long Beach. Totaling 5,261 sqft, the subjectproperty is currently operating at a 5.94% cap rate and11.38 GRM and is in the desirable Wrigley pocket of Lo ngBeach. Wrigley attracts families and higher rents and hasa close proximity to transportation and highways forcommuter families.2011 Cedar has an ideal unit mix of (6) 2Bed+1Bath units.One unit can be delivered vacant for an owner user orrented by the new owner to a tenant of their choosing. Theproperty features on site laundry and parking, allowing forhigher rents. There are 5 enclosed, private garages.Garages can either be converted to 2 ADU's or 2 ADU'smay be built on top of the garages 2 avoid losing anyparking. ADU proforma is included in the OM on page 12.The subject property is located just outside the $6Billion of development flooding into Downtown Lon gBeach, including the Long Beach Civic Center, Longbeach Aquarium, OceanAire Project, CSULB Downto wnVillage, Broadway Block, The Pacific and Queen MaryIsland.
|
DAYS ON MARKET
|
56
|
LAST UPDATED
|
9/5/2024
|
|
YEAR BUILT
|
1944
|
COMMUNITY
|
Wrigley Area
|
|
GARAGE SPACES
|
5.0
|
COUNTY
|
Los Angeles
|
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
| AREA |
Wrigley Area |
| GARAGE |
Yes |
| LOT |
6276 sq ft |
| LOT DESCRIPTION |
0-1 Unit/Acre |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
2 |
| WATER |
Public |
| ZONING |
LBR2N |
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Listed with Lyon Stahl Investment Real Estate, Inc.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 10/30/24 4:31 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
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