Active

619 Cedar Avenue 1, 3, 4

Long Beach CA, 90802

$600,000


$393.18 per sqft

Active

1,526 sqft

Multi-family

Built in 1955

Listed by Mark Kelaidis with Pacific Sotheby's Int'l Realty 949-554-1200

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.

OC24078744

MLS ID

April 19, 2024

Listed

July 14, 2024

Updated

Map

619 Cedar Avenue 1, 3, 4
Long Beach CA, 90802

Interior Features

Total Stories

1


Laundry Description

Common Area


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.17 Acres


Lot Features

Near Public Transit


Sewer

Public Sewer

Other Property Details

Area Name

4 - Downtown Area, Alamitos Beach


Days on Market

34


Garage

No


Parking Total

0


View

No


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None


Zoning

LBPD10


Buyer Agency Compensation

2.5%

Listing Contact: 949-554-1200 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 7/14/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 7/14/2024 at 7:06 AM UTC

 

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