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Long Beach, CA 90802 338 Cedar Avenue

$4,500,000

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Presented By: Robert Stepp with Keller Williams - Santa Monica; 310-463-2916
  • MLS# PW23183991
  • 10/03/2023
  • Request Tour
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  • BedBeds • 26
  • BathFull/Half Baths • 7 / 2
  • FootageSQFT • 10,150

Home Details

338 Cedar Avenue is a 17-unit apartment asset in Downtown Long Beach. The property is offered at 11.42 GRM on current rents. The property is comprised of (2) three- bedroom units, (5) two-bedroom units, and (10) one-bedroom units. All of the units have been fully remodeled with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathroom vanities, tiling, and modern fixtures and features throughout. All renovated units offer in-unit washers and dryers. The property is located in prime Downtown Long Beach, steps from a plethora of retail and dining amenities as well as the $520M, 22-acre Civic Center redevelopment, and a two-minute walk to the Metro A Blue Line Pacific Station stop.
Presented By: Robert Stepp with Keller Williams - Santa Monica; 310-463-2916

Interior Features for 338 Cedar Avenue

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesInside
Street SuffixAvenue
Total Stories2

Other Rooms

Entry Level1

General for 338 Cedar Avenue

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.62
Carport Y/NNo
CityLong Beach
Community FeaturesSidewalks
CountyLos Angeles
Days on Market177
DirectionsPacific Ave & Cedar Ave
Electric Expense2510.0
Entry Location1
Fuel Expense4627.0
Garage Spaces0.0
Garage Y/NNo
Gross Income382102.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense10200.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashtoNewLoan, Item1031Exchange
Lot Size Square Feet7503.0
MLS Area4 - Downtown Area, Alamitos Beach
MaintenanceExpense11900.0
MobileHomeRemainsYNNo
Net Operating Income252823.0
New ConstructionNo
Operating Expense129279.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalMixedUse
Property SubTypeMixedUse
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Street NameCedar
Subdivision NameDowntown (DT)
Tax Lot12
Taxes$55,885
Total Units17
Trash Expense424.0
View Y/NNo
Water Sewer Expense10328.0
Waterfront Y/NNo
Year Built1918
Year Built SourceAssessor
ZoningLBPD30

Exterior for 338 Cedar Avenue

Building Area Total10150.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem1620UnitsAcre
Lot Size Acres0.1722
Lot Size Area7503.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings2
Number of Separate Electric Meters17
Number of Separate Gas Meters0
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking0.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $4,500,000
MLS#PW23183991
List Date 10/03/2023
Property Type Multi-Family
Phone 714.964.3311
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*According to the National Association of Realtors