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1415 Cedar Ave 10 Unit Apartment Building $2,896,338 CAD ($289,634 CAD/Unit) 6.21% Cap Rate Long Beach, CA 90813
INVESTMENT HIGHLIGHTS
- Convenient location in the Washington neighborhood across the street from Washington Middle School, currently undergoing a $176M reconstruction
- Just 7 blocks North of Downtown Long Beach, with ongoing new developments of over $8 Billion
- Excellent transit access only a few blocks to the metro blue line rail station, PCH, and the 710 freeway
- Over 60% of household within 5 miles are renters with an average household income of over $94,000
EXECUTIVE SUMMARY
Large high yield postwar 10 unit property in a dense high demand rental area of Long Beach. Great unit mix with five 2 bed/1 bath units, four 1 bed/1 bath units, and one studio in nearly 7,000 square feet of rentable space. High in-place cash flow at close with actual rents at 9.59X gross and a 6.2% cap rate plus a 12% upside to 8.43X GRM and a 7.4% cap rate at market. Community laundry room plus 5 garages for additional income or ADU conversion potential. All windows recently replaced in 2025.
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $2,896,338 CAD | Building Class | C |
| Price Per Unit | $289,634 CAD | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 6,922 SF |
| Cap Rate | 6.21% | Average Occupancy | 90% |
| Gross Rent Multiplier | 9.59 | No. Stories | 2 |
| No. Units | 10 | Year Built | 1949 |
| Property Type | Multifamily | Parking Ratio | 0.72/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R4N, Long Beach | ||
| Price | $2,896,338 CAD |
| Price Per Unit | $289,634 CAD |
| Sale Type | Investment |
| Cap Rate | 6.21% |
| Gross Rent Multiplier | 9.59 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 6,922 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built | 1949 |
| Parking Ratio | 0.72/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R4N, Long Beach |
AMENITIES
UNIT AMENITIES
- Ceiling Fans
- Range
- Walk-In Closets
- Linen Closet
SITE AMENITIES
- Laundry Facilities
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 5 | $2,921 CAD | 500 |
| 1+1 | 4 | $2,212 CAD | 500 |
| Studios | 1 | $2,074 CAD | 500 |
1 1
Walk Score®
Very Walkable (88)
Bike Score®
Very Bikeable (83)
PROPERTY TAXES
| Parcel Number | 7269-041-027 | Total Assessment | $3,352,447 CAD |
| Land Assessment | $1,221,848 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $2,130,599 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
7269-041-027
Land Assessment
$1,221,848 CAD
Improvements Assessment
$2,130,599 CAD
Total Assessment
$3,352,447 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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1415 Cedar Ave
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