$600,000
619 Cedar Avenue # 1, 3, 4, Long Beach 90802
1
Bed
3
Baths
7,501
Lot Size
3
# Of Units
Listing Agent
Mark Kelaidis - Pacific Sotheby's Int'l RealtyDiscover 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.
Facts & Features
| MLS® # | OC24078744 |
|---|---|
| Price | $600,000 |
| Bedrooms | 1 |
| Bathrooms | 3.00 |
| Lot Size | 7,501 |
| Year Built | 1955 |
| Type | Residential Income |
| Sub-Type | Own Your Own |
| Status | Active |
| # Of Units | 3 |
Community Information
| Address | 619 Cedar Avenue # 1, 3, 4 |
|---|---|
| Area | 4 - Downtown Area, Alamitos Beach |
| Subdivision | Downtown (DT) |
| City | Long Beach |
| County | Los Angeles |
| Zip Code | 90802 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
| Pool | None |
Interior
| Has Basement | No |
|---|---|
| Fireplace | No |
| # of Stories | 1 |
Exterior
| Lot Description | Near Public Transit |
|---|
Additional Information
| Date Listed | April 19th, 2024 |
|---|---|
| Days on Market | 15 |
| Zoning | LBPD10 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Mark Kelaidis |
|---|---|
| Office | Pacific Sotheby's Int'l Realty |