9% cap rate! Beautiful craftsman bungalow with 2 units and 6 additional units available in downtown Long Beach just minutes to the beach! Discover an exceptional investment opportunity at 833 Cedar Avenue, a prominent 8-unit apartment building located in a prime area in Long Beach. This unique multi family property,… Read More just 5 minutes from the beach, boasts two buildings with a total of 6,494 square feet situated on a generous 7,506 square foot lot, offering significant rental income potential. Recent upgrades enhance this property's appeal, including 100% new plumbing installed three to four years ago and new vinyl windows throughout. The conversion to electric heaters means tenants now cover their own heating costs, as they pay for electricity. Strategically zoned LBPD10, this property benefits from one of Long Beach's most desirable and flexible planning districts, allowing for higher density development. This prime location provides residents with excellent access to downtown Long Beach amenities, shopping, dining, entertainment, and public transportation, and easy freeway access. With its robust unit count, considerable square footage (studios 655 sf), advantageous zoning, and recent improvements, 833 Cedar Avenue is an excellent acquisition for investors seeking a strong performing asset with potential for future upside in a dynamic Long Beach market. Read Less
Courtesy of Keller Williams Pacific Estates 562-513-7800
Listing Snapshot
Days Online
265
Last Updated
Property Type
Apartment
Beds
4
Square Ft.
6,494
Lot Size
0.17 Acres
Year Built
1931
MLS Number
PW26094892MR
Additional Details
Building
6,494 sq ft, Built in 1931, Attached
Community
Curbs, Watersports, Biking, Street Lights, Sidewalks, Park
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