Long Beach, CA 90802 619 Cedar Avenue 1 # 1, 3, 4
$600,000
4 more
Presented By: Mark Kelaidis with Pacific Sotheby's Int'l Realty;
Beds • 1
Baths • 3
SQFT • 1,526
Home Details
Discover a prime opportunity in the heart of Downtown Long Beach with this unique offering of three Own-Your-Own units at 619 Cedar Avenue. This bundle includes two studio apartments and a single 1-bedroom unit. Perfectly positioned within walking distance to Pine Avenue's vibrant dining and entertainment scene, and close to metro rail services, these units are primed for solid rental demand. Currently, rents are below market value, offering significant upside potential with a proforma cap rate of 6.5%. Ideal for those looking to capitalize on Long Beach's dynamic rental market, these units present a chance to secure a low-maintenance property with a high return on investment.
Presented By: Mark Kelaidis with Pacific Sotheby's Int'l Realty;
Interior Features for 619 Cedar Avenue 1 # 1, 3, 4
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Street SuffixAvenue
Total Stories1
Other Rooms
Entry Level1
General for 619 Cedar Avenue 1 # 1, 3, 4
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.1
Carport Y/NNo
CityLong Beach
Community FeaturesUrban
ContingencyBuyer to cooperate with seller's 1031 exchange
CountyLos Angeles
Days on Market
DirectionsFrom W 7th Street, Turn South on Cedar Avenue.
Electric Expense0.0
Entry LocationGround
Garage Spaces0.0
Garage Y/NNo
Gross Income0.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense1200.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsCash, CashtoNewLoan
Lot Size Square Feet7501.0
MLS Area4 - Downtown Area, Alamitos Beach
MaintenanceExpense2296.0
MobileHomeRemainsYNNo
Net Operating Income30664.0
New ConstructionNo
Number of Units Leased3
Operating Expense7756.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalOwnYourOwn
Property SubTypeOwnYourOwn
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Street NameCedar
Subdivision NameDowntown (DT)
Tax Lot23-28
Tenant PaysAllUtilities
Total Actual Rent4730.0
Total Units3
Trash Expense0.0
Unit Number1, 3, 4
View Y/NNo
Water Sewer Expense0.0
Waterfront Y/NNo
Year Built1955
Year Built SourceAssessor
ZoningLBPD10
Exterior for 619 Cedar Avenue 1 # 1, 3, 4
Building Area Total1526.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesNearPublicTransit
Lot Size Acres0.1722
Lot Size Area7501.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings1
Number of Separate Electric Meters3
Number of Separate Gas Meters3
Number of Separate Water Meters3
Open Parking Y/NNo
SpaNo
Total Parking0.0
Water SourcePublic
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480