1495 Cedar Ave

  • 12.75X GRM on actual rents
  • Great proximity to Downtown Long Beach, one mile North of new Civic Center redevelopment
  • Directly across the street from Washington Middle School
  • Clean, professionally managed building with no deferred maintenance
  • Many units for the price with 12 studio units and 2 one bedroom units
  • Select units upgraded with renovated kitchens, granite countertops, new vinyl plank/hardwood floors, and remodeled bathrooms
  • 5 garages plus a laundry room for additional income
  • 12% upside in rents plus an opportunity to cut expenses by separating electric and gas meters
  • Dense rental market with low vacancy rate and strong income
Status: 
Sold
Price: 
$1,950,000
Units: 
14
Annual Income: 
$152,963
Vacancy Rate: 
5
Annual Expenses: 
$60,233
Annual NOI: 
$85,191
# of Units# of Bedrooms# of BathsUnit FurnishedGarageActual RentTotal RentPro Forma
1201N$855$10,265$975
211N$1150$2300$1200
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