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$1,675,000

Est. payment - /mo

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5,261 SqFt

Active

2011 Cedar AVE Long Beach, CA 90806

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Nathan King Real Estate Group

info@kingrealestate.group +1(559) 396-0000

UPDATED:

10/01/2024 04:14 PM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 5,261 sqft

Price per Sqft $318

MLS Listing ID SB24182456

HOA Y/N No

Year Built 1944

Lot Size 6,276 Sqft

Property Description

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.

Location

State CA

County Los Angeles

Area 5 - Wrigley Area

Zoning LBR2N

Rooms

Ensuite Laundry Inside

Interior

Laundry Location Inside

Fireplace No

Laundry Inside

Exterior

Garage Spaces 5.0

Garage Description 5.0

Pool None

Community Features Urban

Total Parking Spaces 5

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7209025024

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc. • 310-259-7556

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Nathan King Real Estate Group

Broker | License ID: 01878277

+1(559) 396-0000

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