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Listed by Stephen Takahashi • Lyon Stahl Investment Real Estate, Inc.
$ 1,150,000
Est. payment | /mo
4,464 SqFt
$ 1,150,000
Est. payment | /mo
4,464 SqFt
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 4,464 sqft
Price per Sqft $257
Subdivision Wrigley Area
MLS Listing ID SB-25233154
Year Built 1926
Lot Size 7,735 Sqft
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
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
Area 5 - Wrigley Area
Interior
Laundry Common Area
Exterior
Garage Spaces 4.0
Pool None
Community Features Sidewalks, Urban
Building
Lot Description Rectangular Lot
Sewer Public Sewer
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Marissa Buss & Danny Lampert
Lic# 01770909 | 01834114