Thank you
Mark Kelaidis
Pacific Sotheby's Int'l Realty
949-554-1200
Discover a prime opportunity in the heart of Downtown Long Beach with this unique offering of three Own-Your-Own units at 619 Cedar Avenue. This bundle includes two studio apartments and a single 1-bedroom unit. Perfectly positioned within walking distance to Pine Avenue's vibrant dining and entertainment scene, and close to metro rail services, these units are primed for solid rental demand. Currently, rents are below market value, offering significant upside potential with a proforma cap rate of 6.5%. Ideal for those looking to capitalize on Long Beach's dynamic rental market, these units present a chance to secure a low-maintenance property with a high return on investment.
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Water Source : Public
Sewer : Public Sewer
Year Built: 1955
Building Area Total: 1,526
None
Common Area
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1722
Lot Size Source: Assessor
Lot Size Square Feet: 7501
Original List Price: 600,000
Listing Contract Date: 2024-04-19
Listing Agreement: Exclusive Right To Sell
Parcel Number: 7272022038
Lease Term: Negotiable
Tenant Pays: All Utilities
Source Listing Status: Active
Source Neighborhood: 4 - Downtown Area, Alamitos Beach
Postal Code Plus 4: 1225
Directions: From W 7th Street, Turn South on Cedar Avenue.
Zoning: LBPD10
Source Property Type: Residential Income
Area: 4 - Downtown Area, Alamitos Beach
Property SubType: Own Your Own
Property Age: 69
Common Walls: 2+ Common Walls
Structure Type: Own Your Own
Year Built Source: Assessor
Entry Level: 1
Entry Location: Ground
Property Attached: Yes
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
360 W Ocean Boulevard #.., Long Beach, CA,90802 | $479,000 | 1 | 1 | 777 | 7371 Sqft |
527 W 3rd Street, Long Beach, CA,90802 | $8,700,000 | -- | -- | 19,935 | 7525 Sqft |
140 Linden Avenue #962, Long Beach, CA,90802 | $475,000 | 1 | 1 | 539 | 33488 Sqft |
1030 E Ocean Boulevard .., Long Beach, CA,90802 | $885,000 | 3 | 2 | 1,250 | 21096 Sqft |
1000 E Ocean Boulevard .., Long Beach, CA,90802 | $959,000 | 3 | 2 | 1,592 | 37396 Sqft |
1026 1040 E Broadway, Long Beach, CA,90802 | $3,050,000 | -- | -- | 7,315 | 11213 Sqft |
135 Bonito Avenue #11, Long Beach, CA,90802 | $189,000 | -- | 1 | 342 | 4505 Sqft |
338 Cedar Avenue, Long Beach, CA,90802 | $4,500,000 | -- | -- | 10,150 | 7503 Sqft |
708 E Alta Way, Long Beach, CA,90802 | $799,900 | 2 | 1 | 688 | 1293 Sqft |
1100 E 4th Street #H, Long Beach, CA,90802 | $539,000 | 2 | 2 | 1,091 | 20642 Sqft |
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ByOwner last updated this listing 05/04/2024 @ 13:31
MLS: OC24078744
LISTED BY: Mark Kelaidis, Pacific Sotheby's Int'l Realty
SOURCE: CRMLS
Buyer Agency Compensation: 2.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.