Log In/Sign Up
Your email has been sent.
2409 Cedar Ave 8 Unit Apartment Building $2,344,181 CAD ($293,023 CAD/Unit) 5.45% Cap Rate Long Beach, CA 90806
INVESTMENT HIGHLIGHTS
- ±28% Rental Upside - Prime Value Add Opportunity
- Balanced Mix of (4) 2BD/1BA & (4) 1BD/1BA
- Walk Score 88 / Bike Score 81
- Separate Meters for Gas & Electricity
- Desirable Wrigley Neighborhood - Close Proximity to Amenities
- Excellent Transit Access - Willow St. Station within ~0.6 Miles
EXECUTIVE SUMMARY
2409 Cedar Avenue is an 8-unit multifamily investment opportunity located in the highly desirable Wrigley neighborhood of Long Beach. With in-place rents approximately 28% below current market levels, the property presents a compelling value-add opportunity and strong potential for rental income growth.
The well-balanced unit mix features four (4) two-bedroom/one-bath units and four (4) one-bedroom/one-bath units, all generously sized to appeal to a wide range of renters and support long-term occupancy. Separate gas and electric meters provide an opportunity for utility passthrough, while onsite laundry facilities generate additional ancillary income.
Situated in the walkable and transit-friendly Wrigley submarket, the property boasts an 88 Walk Score and 81 Bike Score, offering residents easy access to neighborhood retail, dining, and daily conveniences. The Willow Street Metro Station is just 0.6 miles away, providing a direct connection to major employment hubs throughout the region.
The well-balanced unit mix features four (4) two-bedroom/one-bath units and four (4) one-bedroom/one-bath units, all generously sized to appeal to a wide range of renters and support long-term occupancy. Separate gas and electric meters provide an opportunity for utility passthrough, while onsite laundry facilities generate additional ancillary income.
Situated in the walkable and transit-friendly Wrigley submarket, the property boasts an 88 Walk Score and 81 Bike Score, offering residents easy access to neighborhood retail, dining, and daily conveniences. The Willow Street Metro Station is just 0.6 miles away, providing a direct connection to major employment hubs throughout the region.
PROPERTY FACTS
| Price | $2,344,181 CAD | Property Subtype | Apartment |
| Price Per Unit | $293,023 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.45% | Lot Size | 0.15 AC |
| Gross Rent Multiplier | 10.89 | Building Size | 8,024 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1948 |
| Zoning | LBR1N | ||
| Price | $2,344,181 CAD |
| Price Per Unit | $293,023 CAD |
| Sale Type | Investment |
| Cap Rate | 5.45% |
| Gross Rent Multiplier | 10.89 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 8,024 SF |
| No. Stories | 2 |
| Year Built | 1948 |
| Zoning | LBR1N |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | - | 915 |
| 1+1 | 4 | - | 714 |
1 1
Walk Score®
Very Walkable (88)
Bike Score®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 7205-010-023 | Improvements Assessment | $252,397 CAD |
| Land Assessment | $96,272 CAD | Total Assessment | $348,670 CAD |
PROPERTY TAXES
Parcel Number
7205-010-023
Land Assessment
$96,272 CAD
Improvements Assessment
$252,397 CAD
Total Assessment
$348,670 CAD
1 of 18
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
2409 Cedar Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.