1019 Cedar Avenue, Long Beach, CA 90813

$6,300,000
15,566
SqFt
Sold Price
$6,300,000
List Price
$6,500,000
Closing Date
Jan 03, 2020
Status
CLOSED
MLS#
PW19179645
Year Built
1961
Living Sq. Ft
15,566
Lot Size
14,741
Acres
0.3384
Lot Location
26-30 Units/Acre
Days on Market
105
Property Type
Multifamily
Neighborhood
Willmore District (Wm)

Property Description

1019-1027 Cedar Avenue is a 26-unit turn-key property with 14 parking garages in the up-and-coming Willmore City Historic District, just north of Downtown Long Beach. The property offers 22 one-bedroom/one-bath and 4 two-bedroom/one- bath units. All units are completely remodeled with new wood laminate flooring, custom cabinetry, quartz countertops, stainless steel appliances, new bathroom vanities, and modern lighting and fixtures throughout. The building also features 14 garages, a community courtyard with BBQ and dining facilities and on-site laundry facilities. This property is in very close proximity to all of the exciting amenities and employment opportunities in Downtown Long Beach. This location is popular for commuters because it offers easy access to the 710 and 405 freeways as well as the Metro Blue Line which runs between Downtown Long Beach and Downtown Los Angeles, with 22 stops along the way. 1019-1027 Cedar Avenue offers an investor the opportunity to own a completely remodeled, turn-key asset in a growing area adjacent to booming Downtown Long Beach. Willmore is one of Long Beach's oldest neighborhoods, located on DTLB's western edge and bordering the L.A. River. Here you'll find a large concentration of turn- of-the-century homes. The Willmore neighborhood reflects Long Beach's past, present and future.

Additional Information

Tract Number
5758
Lot Description
Sidewalks, Street Lights, Urban
Pool Description
None
Garage Spaces Total
14
Sewer
Public Sewer
Water
Public
Attached Structure
Attached
Number Of Units Total
26
Gross Scheduled Income
$462,300
Operating Expense
155967

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Robert Stepp from Keller Williams Pacific Estate

Listing sold by Mark Witsken from Keller Williams-Santa Monica