338 Cedar Avenue
Description
with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathroom vanities, tiling, and modern fixtures and features throughout. All renovated units offer in-unit washers and dryers....338 Cedar Avenue is a 17-unit apartment asset in Downtown Long Beach. The property is offered at 10.98 GRM on current rents. The property is comprised of (2) three- bedroom units, (5) two-bedroom units, and (10) one-bedroom units. All of the units have been fully remodeled
with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathroom vanities, tiling, and modern fixtures and features throughout. All renovated units offer in-unit washers and dryers. The property is located in prime Downtown Long Beach, steps from a plethora of retail and dining amenities as well as the $520M, 22-acre Civic Center redevelopment, and a two-minute walk to the Metro A Blue Line Pacific Station stop.
- Listed by Robert Stepp • DRE #01456379 • Brokerage DRE #01499010 • Keller Williams - Santa Monica • 310-463-2916
Property Details for 338 Cedar Avenue
Property Details for 338 Cedar Avenue
| Status | Active |
|---|---|
| MLS # | PW23183991 |
| Days on Market | 445 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Mixed Use |
| MLS Type | Residential Income |
| Year Built | 1918 |
| Lot Size | 0.17 AC / 7,503 SF |
| County | Los Angeles County |
Building Information for 338 Cedar Avenue
Property Information for 338 Cedar Avenue
- Gross Income: $382,102
- Gross Scheduled Income: $393,920
- Net Operating Income: $252,704
- Gross Multiplier: 10.98
- Cap Rate: 5.84
- Operating Expense: $129,399
- New Taxes Expense: $56,005
- Gardener Expense: $1,200
- Fuel Expense: $4,627
- Licenses Expense: $1,000
- Pest Control Expense: $1,000
- Electric Expense: $2,510
- Insurance Expense: $10,200
- Maintenance Expense: $11,900
- Professional Management Expense: $25,105
- Other Expense: $5,100
- Other Expense Description: Reserves
- Trash Expense: $424
- Water Sewer Expense: $10,328
- Total Expenses: $129,399
- Tax Block: 82
- Tax Tract Number: 5759
- Tax Census Tract: 5759.02
- Tax Lot: 12
- Community Features: Sidewalks
- Laundry: Yes
- Laundry Features: Inside
- Entry Location: 1
- Pool Features: None
- Pool Description: None
- Lot Features: 16-20 Units/Acre
- Number Of Units: 17
- Land Lease: No
- Land Lease Type: Fee
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 0
- Parking Garage Spaces: 0
- Carport Spaces: 0
- Builders Tract Name: Downtown
- Builders Tract Code: Downtown (DT)
- Unit Type Units Total: 1
- Unit Type Beds Total: 3
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $2,195
- Unit Type Total Rent: $2,195
- Unit Type Pro Forma: 2500
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 3
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $2,195
- Unit Type Total Rent: $2,195
- Unit Type Pro Forma: 2500
- Unit Type Type: 2
- Unit Type Units Total: 3
- Unit Type Beds Total: 2
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $2,462
- Unit Type Total Rent: $7,386
- Unit Type Pro Forma: 2528
- Unit Type Type: 3
- Unit Type Units Total: 2
- Unit Type Beds Total: 2
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $2,148
- Unit Type Total Rent: $4,296
- Unit Type Pro Forma: 2395
- Unit Type Type: 4
- Unit Type Units Total: 10
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $1,659
- Unit Type Total Rent: $16,590
- Unit Type Pro Forma: 1795
- Unit Type Type: 5
- Rent Controlled: Yes
- Number Of Buildings: 2
- Number Of Separate Electric Meters: 17
- Number Of Separate Gas Meters: 0
- Number Of Separate Water Meters: 1
Property History for 338 Cedar Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 338 Cedar Avenue
Schools near 338 Cedar Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Chavez Elementary School PublicK to 5 | ||
Washington Middle School Public6 to 8 | ||
Cabrillo High School Public9 to 12 | ||
Renaissance High School For The Arts 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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Listing Courtesy of Keller Williams - Santa Monica, Robert Stepp, DRE #01456379
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.