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Listed by Jeffrey Isenberg • Buckingham Investments, Inc
$1,070,000
Est. payment /mo
2,516 SqFt
Active
1990 Cedar Avenue Long Beach, CA 90806
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Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,516 sqft
Price per Sqft $425
Subdivision Wrigley Area
MLS Listing ID SB-25126683
Year Built 1930
Lot Size 3,169 Sqft
Property Sub-Type Quadruplex
Property Description
Prime 4-Unit Investment Opportunity! Unlock the exceptional potential of this well-positioned multifamily asset in the heart of the South Wrigley sub-market of Long Beach. Each of the spacious 1 bed, 1 bath units offers approx. 630 square feet of living space with functional layouts and the ability to add in-unit laundry for increased rental appeal and tenant retention. Recent Cap Ex includes new roofs on both structures, upgraded electrical panel, seismic retrofit bolting and rebuilt front & rear staircases. Investors and owner-users alike have the opportunity to capture a 13% upside in rents, in an area poised for continued appreciation. The property includes 2 large-tandem garages offering ADU development potential (buyer to verify). o Close proximity to the 710, 405, & 91 freeways and public transportation options including the Metro Blue Line with direct access to downtown Long Beach & Los Angeles. o Approximately 2 miles to the Long Beach Civic Center, Shoreline Village, and the waterfront district offering a wide range of dining, shopping, and entertainment options. o Nearby access to recreational amenities like Cesar E. Chavez Park, the Wrigley Greenbelt, Lincoln Park and the L.A. River bike path. South Wrigley is seeing a wave of transformation with ongoing infrastructure upgrades, new residential and mixed-use developments, and significant city investment in the surrounding area. Investors will benefit from being in the path of progress as Long Beach continues to revitalize and attract new residents and businesses alike. Whether you're looking to expand your portfolio or capitalize on a high-potential asset in one of Long Beach's most promising neighborhoods, 1990 Cedar Ave. is a must-see!
Location
State CA
County Los Angeles
Area 5 - Wrigley Area
Zoning LBR2N
Interior
Heating Wall Furnace
Flooring Carpet, Laminate, Tile
Fireplaces Type None
Laundry None
Exterior
Parking Features Garage
Garage Spaces 4.0
Pool None
Community Features Park, Sidewalks
View Y/N No
View None
Building
Lot Description 0-1 Unit/Acre, Back Yard
Sewer Public Sewer