Pending
1415 Cedar Ave, Long Beach
Large high yield postwar 10 unit property in a dense high demand rental area of Long Beach. Great unit mix with five 2 bed/1 bath units, four 1 bed/1 bath units, and one studio in nearly 7,000 square feet of rentable space. High in-place cash flow at close with actual rents at 9.59X gross and a 6.2% cap rate plus a 12% upside to 8.43X GRM and a 7.4% cap rate at market. Community laundry room plus 5 garages for additional income or ADU conversion potential. All windows recently replaced in 2025.
Property Details
- Units: 10
- Gross Rent Multiplier: 9.59
- Cap Rate: 6.2
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$2,095,000
Annual Income
$217,260
Annual NOI
$130,203
Annual Expense
$77,394
Rental Cost Details
| # OF UNITS | # OF BEDROOMS | # OF BATHS | ACTUAL RENT | TOTAL RENT | PRO FORMA | TOTAL PRO FORMA |
| 1 | 2 | 1 | $2,000 | $2,000 | $2,300 | $2,300 |
| 1 | 2 | 1 | $1,950 | $1,950 | $2,300 | $2,300 |
| 1 | 1 | 1 | $1,500 | $1,500 | $1,800 | $1,800 |
| 1 | 1 | 1 | $1,550 | $1,550 | $1,800 | $1,800 |
| 1 | 2 | 1 | $1,925 | $1,925 | $2,300 | $2,300 |
| 1 | 2 | 1 | $2,300 | $2,300 | $2,300 | $2,300 |
| 1 | 1 | 1 | $1,700 | $1,700 | $1,800 | $1,800 |
| 2 | 1 | 1 | $2,100 | $4,200 | $2,300 | $4,600 |
| 1 | 0 | 1 | $1,500 | $1,500 | $1,500 | $1,500 |
| 1 | 1 | 1 | $1,580 | $1,580 | $1,800 | $1,800 |
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 11 | 13 | 10 | $20,205 | $22,500 |
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