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Listed by Tyler Leeson • Marcus & Millichap RE Invest
$2,525,000
Est. payment /mo
9,399 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 9,399 sqft
Price per Sqft $268
Subdivision Wrigley Area
MLS Listing ID OC-26199545
Year Built 1931
Lot Size 6,534 Sqft
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
Property Description
2059 Cedar Avenue is a 14-unit multifamily property located in Long Beach, California. Built in 1931, 2059 Cedar Avenue features distinctive Spanish Revival-style architecture characterized by its stucco exterior, clay tile roof, arched openings and period architectural detailing. The 2-story property features a unit mix of 6 studios and 8 1-bed/1-bath units totaling approximately 9,399 rentable square feet. Residents enter through a controlled-access main entrance that opens to an interior hallway system serving the individual residences, a layout characteristic of apartment buildings from this era. The property offers several amenities that provide value to both residents and ownership. An on-site laundry facility gives residents the convenience of laundry within the building while generating additional property income. The 4 garage parking spaces are particularly valuable in Long Beach's dense residential environment, providing residents with dedicated off-street parking while also enhancing the property's rental income. Current ownership reports copper plumbing and electrical improvements, along with updates to kitchens and bathrooms throughout the property. Units have also received various improvements as they have turned over through the years, with stainless-steel appliances among the upgrades found in select residences. Combining classic 1930s architecture with updated interiors, building-system improvements and incomeproducing resident amenities, 2059 Cedar Avenue offers investors the opportunity to acquire a distinctive Long Beach multifamily asset with numerous capital improvements already completed under current ownership.
Location
State CA
County Los Angeles
Area 5 - Wrigley Area
Interior
Laundry Community
Exterior
Garage Spaces 4.0
Pool None
Community Features Curbs, Gutters, Sidewalks, Street Lights
Building
Lot Description Level with Street
Sewer Public Sewer
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Nearby Locations
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John R Thompson
Broker/Owner License ID: 01200900
Broker/Owner License ID: 01200900