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2332 Cedar Ave, Long Beach
| Located in Long Beach’s vibrant Wrigley neighborhood, 2332 Cedar Ave is extensively renovated and ready for move-in! As you drive down the long private driveway with ample off-street parking, you’re greeted by a charming Spanish Colonial-style front house featuring 2 bedrooms and 1 bathroom. This home has been thoughtfully updated with new flooring, countertops, modern cabinetry, light fixtures, mini split AC, and a full electrical rewire. The home is leased to long term tenants paying great rent! Tucked midway through the 6,500 sq ft lot is a brand-new, all-electric 2-bedroom, 1-bath ADU completed in 2025, featuring a separate meter, new roof, premium finishes, and washer/dryer hookups—currently move-in ready! At the rear is a stylishly updated 1-bedroom, 1-bath unit, built in 1951, with new mini split AC, new wiring, and a new main gas line. This unit is leased at market rent! Additional upgrades include a new main water line serving all units, new windows, flooring, kitchen cabinets, countertops, light fixtures, and exhaust hoods throughout. Whether you’re an investor or planning to live in one unit while offsetting your mortgage, this is a smart move for any buyer.
*Some photos have been retouched using AI |
Property Details
- Units: 3
- Gross Rent Multiplier: 13.9
- Cap Rate: 4.6
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$1,100,000
Annual Income
$78,600
Annual NOI
$50,532
Annual Expense
$25,710
Rental Cost Details
| # OF UNITS | # OF BEDROOMS | # OF BATHS | ACTUAL RENT | TOTAL RENT | PRO FORMA | TOTAL PRO FORMA |
| 1 | 2 | 1 | $2,350 | $2,350 | $2,500 | $2,500 |
| 1 | 2 | 1 | $2,350 | $2,350 | $2,350 | $2,350 |
| 1 | 1 | 1 | $1,850 | $1,850 | $1,850 | $1,850 |
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 3 | 5 | 3 | $6,550 | $6,700 |
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