330 Cedar Avenue, Long Beach, CA 90802
- $4,746,700
- 7
- BD
- 25
- BA
- 14,055
- SqFt
- List Price
- $4,746,700
- Price Change
- ▼ $300 1775861029
- Status
- ACTIVE
- MLS#
- 25618923
- Year Built
- 1915
- Bedrooms
- 7
- Bathrooms
- 25
- Living Sq. Ft
- 14,055
- Lot Size
- 7,513
- Acres
- 0.17
- Days on Market
- 258
- Property Type
- Multifamily
- Stories
- Three Or More Levels, Multi Level
Property Description
PRICED TO SELL. Under 10 GRM and 6.0% CAP. 25 units in the heart of Downtown Long Beach. Excellent unit mix for the area. Well-maintained and professionaly managed property. Property is subject to AB 1482 Rent Control (5% + CPI increase allowed). The building is blocks from over $8BB in redevelopment including the new Library and many new apartment complexes and restaurants. All unit interiors and common areas heavily updated. The buildings electrical was updated to a 400 AMP main panel and 60 AMPS in each unit and the roof was replaced in 2020. The building was also retrofitted in 1989. New laminate flooring throughout the common areas. Onsite laundry in the basement area. There is a separate house in the rear that has 2 large units - a 3 bed/1 bath and 1 bed/1 bath unit. Loan quote provided by David Guevara. Momenta Capital Group. Qualified Buyers can put as little as 28% down and earn over an 8% cash on cash return against in-place rents. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL.
Additional Information
- Heat
- Wall Furnace
- Cooling Description
- None
- Attached Structure
- Detached
- Number Of Units Total
- 25
Listing courtesy of Listing Agent: Jonathan Swire (jon@jonswire.com) from Listing Office: The Agency.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . 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, 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.