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1217 Cedar Ave 14 Unit Apartment Building $3,432,951 CAD ($245,211 CAD/Unit) 6.50% Cap Rate Long Beach, CA 90813
Investment Highlights
- PRICED TO SELL AT 9.7 GRM & 6.5% CAP WITH UPSIDE TO 6.8% CAP.
- Blocks from Downtown Long Beach where over $8BB of redevelopment has occured.
- Excellent 5.05% Financing Available for Qualified Buyers. Earn over a 10% Cash on Cash Return against in place rents.
- Excellent Unit mix of 8 studios and 6 1+1's.
- EMAIL LISITNG AGENT FOR MORE INFO INCLUDING A RR AND OM.
- All units have updated flooring - some have updated baths and kitchens as well.
Executive Summary
PRICED TO SELL AT 9.7 GRM & 6.5% CAP WITH UPSIDE TO 6.8% CAP.
14 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.0%). The property is professionally managed and well maintained. Some units have updated kitchens, baths and flooring. The property also just received updated landscaping and paint.
The building features and excellent unit mix for the area and is located blocks from $8BB worth of redevelopment in the Down Town Long Beach area. There is no onsite parking but there is onsite laundry.
The electrical is Siemens - it's a 200 AMP main panel with 30 AMP subpanels (Buyer to verify).
Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. The City of Long Beach also just approved a $38MM makeover of the Long Beach Airport in preperation for the 2028 Olympics
Qualfied Buyers can get a new loan with as little as 25% down. 5.05% Fixed for 5 years, Interest Only. Loan quote provided by David Guevara. Momenta Capital Group. 714.474.1284 - dguevara@momentacg.com
EARN OVER 10% CASH ON CASH AGAINST IN-PLACE RENTS.
EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RR AND OM.
14 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.0%). The property is professionally managed and well maintained. Some units have updated kitchens, baths and flooring. The property also just received updated landscaping and paint.
The building features and excellent unit mix for the area and is located blocks from $8BB worth of redevelopment in the Down Town Long Beach area. There is no onsite parking but there is onsite laundry.
The electrical is Siemens - it's a 200 AMP main panel with 30 AMP subpanels (Buyer to verify).
Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. The City of Long Beach also just approved a $38MM makeover of the Long Beach Airport in preperation for the 2028 Olympics
Qualfied Buyers can get a new loan with as little as 25% down. 5.05% Fixed for 5 years, Interest Only. Loan quote provided by David Guevara. Momenta Capital Group. 714.474.1284 - dguevara@momentacg.com
EARN OVER 10% CASH ON CASH AGAINST IN-PLACE RENTS.
EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RR AND OM.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$354,422
|
$40.18
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$354,422
|
$40.18
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $354,422 |
| Annual Per SF | $40.18 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $354,422 |
| Annual Per SF | $40.18 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $3,432,951 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $245,211 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 6.50% | Building Size | 8,820 SF |
| Gross Rent Multiplier | 9.7 | Average Occupancy | 100% |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1923/2021 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | PD10, Long Beach | ||
| Price | $3,432,951 CAD |
| Price Per Unit | $245,211 CAD |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| Gross Rent Multiplier | 9.7 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 8,820 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1923/2021 |
| Opportunity Zone |
Yes |
| Zoning | PD10, Long Beach |
Amenities
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 7272-001-023 | Improvements Assessment | $1,321,578 CAD |
| Land Assessment | $2,453,315 CAD | Total Assessment | $3,774,893 CAD |
Property Taxes
Parcel Number
7272-001-023
Land Assessment
$2,453,315 CAD
Improvements Assessment
$1,321,578 CAD
Total Assessment
$3,774,893 CAD
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1217 Cedar Ave
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