Long Beach, CA 90802 338 Cedar Avenue
$4,325,000
33 more
Presented By: Robert Stepp with Keller Williams - Santa Monica; rstepp@steppcommercial.com
Beds • 26
Full/Half Baths • 7 / 2
SQFT • 10,150
Year Built • 1918
Home Details
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.
Presented By: Robert Stepp with Keller Williams - Santa Monica; rstepp@steppcommercial.com
Interior Features for 338 Cedar Avenue
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesInside
Total Stories2
Other Rooms
Entry Level1
General for 338 Cedar Avenue
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.84
Carport Y/NNo
CityLong Beach
Community FeaturesSidewalks
CountyLos Angeles
DirectionsPacific Ave & Cedar Ave
Electric Expense2510.0
Electric On Property Y/NNo
Entry Location1
Fuel Expense4627.0
Garage Spaces0.0
Garage Y/NNo
Gross Income382102.0
HOANo
Home Warranty Y/NNo
Insurance Expense10200.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashToNewLoan, Exchange1031
Lot Size Square Feet7503.0
Lot Size UnitsSquareFeet
MLS Area4 - Downtown Area, Alamitos Beach
MaintenanceExpense11900.0
MobileHomeRemainsYNNo
Net Operating Income252704.0
New ConstructionNo
Number Of Units Total17
Operating Expense129399.0
Pool FeaturesNone
Property Attached Y/NYes
Property Sub Type AdditionalMixedUse
Property SubtypeMixedUse
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Subdivision NameDowntown (DT)
Tax Lot12
Taxes$56,005
Trash Expense424.0
Water Sewer Expense10328.0
Waterfront Y/NNo
Year Built1918
Year Built SourceAssessor
ZoningLBPD30
Exterior for 338 Cedar Avenue
Building Area Total10150.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesSixteenToTwentyUnitsAcre
Lot Size Acres0.1722
Lot Size Area7503.0
Lot Size SourceAssessor
Number of Buildings2
Number of Separate Electric Meters17
Number of Separate Gas Meters0
Number of Separate Water Meters1
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking0.0
Water SourcePublic
Additional Details
Price History
Justin Hughey
Price
$4,325,000
MLS#PW23183991
List Date
10/03/2023
Property Type
Multi-Family
Phone
(562) 818-1655
