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Long Beach, CA 90802 442 Cedar Avenue

$3,520,000

Sold: Apr 26, 2024
442 Cedar Avenue Long Beach, Ca - Image 1442 Cedar Avenue Long Beach, Ca - Image 2442 Cedar Avenue Long Beach, Ca - Image 3
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Presented By: Tyler Leeson with Marcus & Millichap RE Invest; 714-713-9086
  • MLS# OC24010591
  • 01/17/2024
  • Request Tour
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  • FootageSQFT • 9,699
  • GarageGarage • 4

Home Details

442 Cedar Avenue is a 22-unit multifamily investment opportunity located in Long Beach, CA. The property offers a mix of studio, one, and two-bedroom floor plans with amenities including security doors, gated access, and four garage spaces. 442 Cedar Avenue is situated in a fantastic Downtown Long Beach location, surrounded by an abundance of retail, dining, and entertainment options, as well as employers. Additionally, the property’s close proximity to Interstate 710 provides convenient access to the Port of Long Beach and the Port of Los Angeles, two of the busiest ports in the world and a major employment hub for the region. Furthermore, 442 Cedar Avenue is within close proximity of all three levels of education.
Presented By: Tyler Leeson with Marcus & Millichap RE Invest; 714-713-9086

General for 442 Cedar Avenue

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Buyer FinancingCashtoLoan
Carport Y/NNo
CityLong Beach
Close Price3520000.0
Community FeaturesStreetLights, Sidewalks
CountyLos Angeles
Days on Market65
DirectionsCross Streets: W 6th Street / Pacific Avenue
Electric Expense6932.2
Entry Location1
Fuel Expense6932.2
Garage Spaces4.0
Garage Y/NYes
Gross Income230414.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense11000.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashtoNewLoan, Item1031Exchange
Lot Size Square Feet7405.2
MLS Area4 - Downtown Area, Alamitos Beach
MaintenanceExpense11000.0
MobileHomeRemainsYNNo
Net Operating Income105780.0
New ConstructionNo
Number of Units Leased22
Operating Expense124634.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NNo
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusClosed
StatusClosed
Stories2
Street NameCedar
Subdivision NameDowntown (DT)
Tax Lot8
Taxes$43,799
Total Actual Rent19795.0
Total Units22
Trash Expense6932.2
View Y/NNo
Water Sewer Expense6932.2
Waterfront Y/NNo
Year Built1923
Year Built SourceAssessor
ZoningLBPD30

Interior for 442 Cedar Avenue

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsNoCommonWalls
Electric On Property Y/NNo
Entry Level1
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesNone
Street SuffixAvenue
Total Stories2

Exterior for 442 Cedar Avenue

Building Area Total9699.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesLandscaped
Lot Size Acres0.17
Lot Size Area0.17
Lot Size SourceAssessor
Lot Size UnitsAcres
Number of Buildings1
Number of Separate Electric Meters1
Number of Separate Gas Meters1
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking4.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $3,520,000
MLS#OC24010591
List Date 01/17/2024
Property Type Multi-Family
Phone 714.964.3311
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*According to the National Association of Realtors