1960 Cedar Avenue

Long Beach, CA 90806

$2,600,000
Price
20
Beds
11
Baths
7,088 Sq. Ft.
$367 / Sq. Ft.
7,088
Sq. Ft.
$367
per Sq. Ft.

Description

Located in the desirable Wrigley area of Long Beach, 1960 Cedar Ave. is a well-maintained 11 unit garden style apartment building comprised of (2) 3bd/1bth units, (6) 2bd/1bth units, (2) 1bd/1bth units, (1) studio, and 5 single car garages. Originally built in 1944, and consisting of 7,088 rentable square feet on a large 8,129 square foot lot. The property is separately metered for gas and electricity, and features gated entry, vinyl pane windows, and community laundry. Priced attractively at $236,365...Located in the desirable Wrigley area of Long Beach, 1960 Cedar Ave. is a well-maintained 11 unit garden style apartment building comprised of (2) 3bd/1bth units, (6) 2bd/1bth units, (2) 1bd/1bth units, (1) studio, and 5 single car garages. Originally built in 1944, and consisting of 7,088 rentable square feet on a large 8,129 square foot lot. The property is separately metered for gas and electricity, and features gated entry, vinyl pane windows, and community laundry. Priced attractively at $236,365 per unit, and $366.82 per SF, 5.61% CAP RATE on current rents, with room to increase rents. Realistic MARKET CAP RATE of 7.10%. An attractive opportunity for a new owner! The property is in an excellent location in the South Wrigley neighborhood of Long Beach. Residents enjoy convenient access to everyday needs at Wrigley Market, an Albertsons anchored retail center located blocks from the property. Additionally, 1880 Cedar is just over 1.75 miles from the abundance of retail, dining, and entertainment options in Downtown Long Beach. It also benefits from its optimal location near Willow Street, Pacific Coast Highway, and 405 and 710 freeways, providing residents easy access to employment hubs throughout Southern California. The overall demand for well-located and maintained apartment building will be a key driver in the continued growth and success at 1960 Cedar Ave. Can be purchased with the 10 units listed at 1880 Cedar Ave.!
  1. Listed by Spencer Pabst • DRE #01849377 • Brokerage DRE #00858534 • Pabst, Kinney & Associates • 562-884-6875

Property Details for 1960 Cedar Avenue

Parking Spaces Total
5
Private Pool
No
Cooling Type
None
Total Units
11.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
7088
Assessor Parcel Number
7209-023-011
LISTING UPDATED: 12/12/2024 08:11 AM

Property Details for 1960 Cedar Avenue

StatusActive
MLS #PW24203754
Days on Market56
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1944
Lot Size0.19 AC / 8,129 SF
CountyLos Angeles County

Building Information for 1960 Cedar Avenue

Stories2Residences-Year Built1944Building Size-Lot Size0.19 AC / 8,129 SF

Property Information for 1960 Cedar Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $20,190
  • Gross Scheduled Income: $242,280
  • Vacancy Allowance: 0
  • Gross Operating Income: $242,280
  • Net Operating Income: $242,280
Expense Details
  • Operating Expense: $0
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $0
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $0
Tax / Assessment Info
  • Tax Block: 4
  • Tax Tract Number: 5730
  • Tax Census Tract: 5730.04
  • Tax Lot: 9
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: None
  • Heating Type: Wall
  • Heating: Wall Furnace
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: Rectangular Lot
  • Number Of Units: 11
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 5
  • Parking: Yes
  • Parking Garage: Assigned
  • Parking Garage Spaces: 5
  • Carport Spaces: 0
  • Parking Features: Assigned
Property / Structure Info
  • Builders Tract Name: Wrigley Area
  • Builders Tract Code: Wrigley Area (WR)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,960
  • Unit Type Total Rent: $1,960
  • Unit Type Pro Forma: 2195
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,400
  • Unit Type Total Rent: $1,400
  • Unit Type Pro Forma: 1795
  • Unit Type Type: 10
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,045
  • Unit Type Total Rent: $1,045
  • Unit Type Pro Forma: 1495
  • Unit Type Type: 11
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,145
  • Unit Type Total Rent: $2,145
  • Unit Type Pro Forma: 2195
  • Unit Type Type: 2
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,900
  • Unit Type Total Rent: $1,900
  • Unit Type Pro Forma: 2195
  • Unit Type Type: 3
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,970
  • Unit Type Total Rent: $1,970
  • Unit Type Pro Forma: 2675
  • Unit Type Type: 4
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,850
  • Unit Type Total Rent: $1,850
  • Unit Type Pro Forma: 2195
  • Unit Type Type: 5
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,940
  • Unit Type Total Rent: $1,940
  • Unit Type Pro Forma: 2195
  • Unit Type Type: 6
Unit 9
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,950
  • Unit Type Total Rent: $1,950
  • Unit Type Pro Forma: 2195
  • Unit Type Type: 7
Unit 10
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,400
  • Unit Type Total Rent: $2,400
  • Unit Type Pro Forma: 2675
  • Unit Type Type: 8
Unit 11
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,630
  • Unit Type Total Rent: $1,630
  • Unit Type Pro Forma: 1795
  • Unit Type Type: 9
Unit Information
  • Number Of Units Leased: 11
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Separate Water Meters: 1

Property History for 1960 Cedar Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 1960 Cedar Avenue

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Lafayette Elementary School
Public - K to 5
Washington Middle School
Public - 6 to 8
Cabrillo High School
Public - 9 to 12
Educational Partnership High School
Public - 9 to 12
Rating
School
Distance
Lafayette Elementary School
PublicK to 5

Washington Middle School
Public6 to 8

Cabrillo High School
Public9 to 12

Educational Partnership High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 1960 Cedar Avenue, Long Beach, CA 90806

1960 Cedar Avenue is a mixed use property for sale in Long Beach, CA 90806. This property was listed for sale on October 1, 2024 by Pabst, Kinney & Associates, it's currently listed at $2,600,000. It has been on the market for a total of 56 days and was last sold on February 15, 2013. This listing's school district is Long Beach Unified School District. Nearby schools include Lafayette Elementary School, Washington Middle School and Cabrillo High School. 1960 Cedar Avenue is a 20-bed, 11-bath, 7,088 sqft mixed use property built in 1944.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Pabst, Kinney & Associates, Spencer Pabst, DRE #01849377

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.