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$1,150,000
Est. payment /mo
5 Beds
7,735 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB25233154
Bedrooms 5
Lot Size 7,735 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
1526 Cedar Avenue is a six-unit multifamily asset located in the Washington District of Long Beach, offering investors a true value-add opportunity with multiple paths to increase income and long-term value. Sitting on a large 7,735 square foot lot, the property provides the potential to add an ADU by converting the detached garages or utilizing the middle section of the lot, which would significantly boost future income (Buyer to Verify). In addition, the building features one vacant unit that allows a new owner to capture market rent immediately, while the property overall offers approximately 21.5% rental upside. The unit mix consists of (1) two-bedroom, one-bath unit and (5) one-bedroom, one-bath units. The property is also well-positioned near George Washington Middle School, which is currently undergoing a $175 million modernization project that will drive continued neighborhood improvement and tenant demand. Altogether, 1526 Cedar presents investors with the chance to capitalize on immediate income growth, long-term development potential, and the benefits of a rapidly gentrifying area.
Location
State CA
County Los Angeles
Zoning Public Rec
Direction Head northwest on I-405 N 121 ft Take exit 42B for Inglewood Avenue 0.3 mi Turn left onto Inglewood Ave 394 ft Turn right to mer
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7269002009
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
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Listed by Stephen Takahashi Lyon Stahl Investment Real Estate, Inc.