Seller's Agent in 2021
Robert Stepp
Keller Williams Realty Downey
(310) 463-2916
5 in this area
74 Total Sales
1027 Cedar Ave Long Beach, CA 90813
Willmore Neighborhood
3
Beds
2
Baths
15,566
Sq Ft
0.34
Acres
Highlights
- 0.34 Acre Lot
- Laundry Room
- 14 Car Garage
About This Home
As of November 20211019-1027 Cedar Avenue is a 26-unit turn-key property in the up-and-coming Willmore City Historic District, just north of Downtown Long Beach. The property offers 22 one-bedroom/one-bath and 4 two-bedroom/one-bath units. All units were extensively remodeled in the past two years with new custom kitchen cabinetry, quartz countertops, stainless steel appliances, new bathroom vanities, and modern lighting. Select units feature all vinyl plank flooring; others feature a mix of vinyl plank flooring and carpet. The building also offers a community courtyard with BBQ and outdoor furniture, as well as on-site laundry facilities and 14 garages. This property is in very close proximity to all of the exciting amenities and employment opportunities in Downtown Long Beach. The location is popular for commuters because it provides easy access to the 710 and 405 freeways as well as the Metro Blue Line which runs between Downtown Long Beach and Downtown Los Angeles, with 22 stops along the way. 1019-1027 Cedar Avenue offers an investor the opportunity to own a remodeled, turn-key asset in a growing area adjacent to booming Downtown Long Beach.
Last Agent to Sell the Property
Keller Williams Realty Downey License #01456379 Listed on: 09/07/2021
Last Buyer's Agent
Keller Williams Realty Downey License #01456379 Listed on: 09/07/2021
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1961
Lot Details
- 0.34 Acre Lot
- Two or More Common Walls
- Density is 26-30 Units/Acre
- 7272006014
Parking
- 14 Car Garage
- Parking Available
Home Design
- 15,566 Sq Ft Home
- Apartment
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Additional Features
- Laundry Room
- Urban Location
Listing and Financial Details
- Legal Lot and Block 6 / 5
- Tax Tract Number 5758
- Assessor Parcel Number 7272006015
- $1,950 per year additional tax assessments
Community Details
Overview
- 2 Buildings
- 26 Units
Amenities
- Laundry Facilities
Building Details
- Rent Control
- 28 Separate Electric Meters
- 28 Separate Gas Meters
- 2 Separate Water Meters
- Electric Expense $3,449
- Fuel Expense $3,449
- Gardener Expense $2,000
- Insurance Expense $8,561
- Maintenance Expense $23,400
- Other Expense $5,200
- Pest Control $1,200
- Professional Management Expense $27,000
- Trash Expense $3,449
- Water Sewer Expense $3,449
- New Taxes Expense $85,176
- Operating Expense $167,614
- Gross Income $491,017
- Net Operating Income $323,403
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 11/09/2021 11/09/21 | Sold | $6,680,000 | -1.0% | $429 / Sq Ft | |
| 10/12/2021 10/12/21 | Pending | -- | -- | -- | |
| 09/07/2021 09/07/21 | For Sale | $6,750,000 | +7.1% | $434 / Sq Ft | |
| 01/03/2020 01/03/20 | Sold | $6,300,000 | -3.1% | $405 / Sq Ft | View Prior Sale |
| 11/11/2019 11/11/19 | Pending | -- | -- | -- | |
| 07/29/2019 07/29/19 | For Sale | $6,500,000 | -- | $418 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $51,149 | $3,815,042 | $2,477,920 | $1,337,122 |
| 2024 | $48,931 | $3,740,238 | $2,429,334 | $1,310,904 |
| 2023 | $48,096 | $3,666,900 | $2,381,700 | $1,285,200 |
| 2022 | $45,132 | $3,595,000 | $2,335,000 | $1,260,000 |
| 2021 | $43,042 | $3,425,120 | $2,222,792 | $1,202,328 |
| 2020 | $30,455 | $2,353,815 | $1,528,139 | $825,676 |
| 2019 | $30,096 | $2,307,726 | $1,498,176 | $809,550 |
| 2018 | $29,330 | $2,262,540 | $1,468,800 | $793,740 |
| 2016 | $12,165 | $889,290 | $497,292 | $391,998 |
| 2015 | $11,711 | $875,933 | $489,823 | $386,110 |
| 2014 | $11,699 | $461,910 | $81,498 | $380,412 |
Source: Public Records
Agents Affiliated with this Home
-
Robert Stepp
-
M
Buyer's Agent in 2020
Mark Witsken
KW Advisors
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW21197284
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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