Long Beach, CA 90806 2011 Cedar Avenue
$1,675,000
19 more
Presented By: Cameron Samimi with Lyon Stahl Investment Real Estate, Inc.; 310-259-7556
Home Details
True Pride of ownership 6-unit building located at 2011
Cedar Ave, Long Beach. Totaling 5,261 sqft, the subject
property is currently operating at a 5.94% cap rate and
11.38 GRM and is in the desirable Wrigley pocket of Lo ng
Beach. Wrigley attracts families and higher rents and has
a close proximity to transportation and highways for
commuter families.
2011 Cedar has an ideal unit mix of (6) 2Bed+1Bath units.
One unit can be delivered vacant for an owner user or
rented by the new owner to a tenant of their choosing. The
property features on site laundry and parking, allowing for
higher rents. There are 5 enclosed, private garages.
Garages can either be converted to 2 ADU's or 2 ADU's
may be built on top of the garages 2 avoid losing any
parking. ADU proforma is included in the OM on page 12.
The subject property is located just outside the $6
Billion of development flooding into Downtown Lon g
Beach, including the Long Beach Civic Center, Long
beach Aquarium, OceanAire Project, CSULB Downto wn
Village, Broadway Block, The Pacific and Queen Mary
Island.
Presented By: Cameron Samimi with Lyon Stahl Investment Real Estate, Inc.; 310-259-7556
Interior Features for 2011 Cedar Avenue
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesInside
Total Stories2
Other Rooms
Entry Level1
General for 2011 Cedar Avenue
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate6.0
Carport Y/NNo
CityLong Beach
Community FeaturesUrban
CountyLos Angeles
Days on Market26
DirectionsOff of Pacific Coast Hwy and Pacific Ave
Electric Expense0.0
Electric On Property Y/NNo
Entry Location1
Expected Active Date 2024-09-05
Fuel Expense0.0
Garage Spaces5.0
Garage Y/NYes
Gross Income147153.0
Home Owner AssocNo
Home Warranty Y/NNo
Insurance Expense0.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Lot Size Square Feet6276.0
Lot Size UnitsSquareFeet
MLS Area5 - Wrigley Area
MobileHomeRemainsYNNo
Net Operating Income99536.0
New ConstructionNo
NumberOfUnitsTotal6
Operating Expense43203.0
Pool FeaturesNone
Private PoolNo
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Tax Lot23
TermsCash, CashToNewLoan, Conventional, Exchange1031
Trash Expense0.0
View Y/NNo
Water Sewer Expense0.0
Waterfront Y/NNo
Year Built1944
Year Built SourceAssessor
ZoningLBR2N
Exterior for 2011 Cedar Avenue
Building Area Total5261.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesZeroToOneUnitAcre
Lot Size Acres0.1441
Lot Size Area6276.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters6
Number of Separate Gas Meters6
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking5.0
Water SourcePublic
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480