Seller's Agent in 2022
Robert Stepp
Keller Williams Realty Downey
(310) 463-2916
6 in this area
76 Total Sales
1035 Cedar Ave Long Beach, CA 90813
Willmore Neighborhood
6
Beds
5
Baths
4,141
Sq Ft
7,456
Sq Ft Lot
Highlights
- 0.17 Acre Lot
- Laundry Room
- 1 Car Garage
About This Home
As of August 20221035 Cedar Avenue is a 6 +1 non-conforming unit investment asset located in the up-and-coming Willmore Historic District. The property consists of a variety of unit types, including (1) 3 BD/2 BA, (1) 2 BD/1 BA, (3) 1 BD/1 BA, (1) studio, and (1) bachelor (no kitchen) unit. There is onsite laundry providing current income, as well two garages on the property and a driveway with tandem-parking potential. One of the garages provides the opportunity for a 1 BD / 1 BA ADU conversion that would increase rental income by $19,200 annually. Additional increased income potential can be achieved by converting the building to separate meters. The property is conveniently located adjacent to the many employment opportunities and modern conveniences of Downtown Long Beach. The location is also favorable to commuters with easy access to the 710 and 405 freeways as well as the Metro Blue Line, which runs from Long Beach to Downtown Los Angeles. This is an excellent opportunity for an investor to get into a neighborhood that is quickly gentrifying.
Last Agent to Sell the Property
Keller Williams Realty Downey License #01456379 Listed on: 05/31/2022
Last Buyer's Agent
Sam Alherech
Buckingham Investments, Inc License #02148135
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1935
Lot Details
- 7,456 Sq Ft Lot
- Two or More Common Walls
- Density is 6-10 Units/Acre
Parking
- 1 Car Garage
- 2 Open Parking Spaces
- Parking Available
- Driveway
Home Design
- Apartment
Interior Spaces
- 4,141 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 6 Bedrooms
- 5 Bathrooms
Listing and Financial Details
- Legal Lot and Block 4 / 5
- Tax Tract Number 5758
- Assessor Parcel Number 7272006013
Community Details
Overview
- 4 Buildings
- 7 Units
Amenities
- Laundry Facilities
Building Details
- Rent Control
- 1 Separate Electric Meter
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Electric Expense $4,074
- Fuel Expense $4,074
- Gardener Expense $1,200
- Insurance Expense $2,485
- Maintenance Expense $3,500
- Other Expense $1,750
- Pest Control $700
- Professional Management Expense $4,549
- Trash Expense $4,074
- Water Sewer Expense $4,074
- New Taxes Expense $16,665
- Operating Expense $46,058
- Gross Income $89,177
- Net Operating Income $43,119
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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 |
|---|---|---|---|---|
| 08/23/2022 08/23/22 | Sold | $1,100,000 | -4.3% | $266 / Sq Ft |
| 07/19/2022 07/19/22 | Pending | -- | -- | -- |
| 07/06/2022 07/06/22 | Price Changed | $1,150,000 | -11.5% | $278 / Sq Ft |
| 05/31/2022 05/31/22 | For Sale | $1,300,000 | -- | $314 / 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 | $15,373 | $1,144,440 | $676,260 | $468,180 |
| 2024 | $15,373 | $1,122,000 | $663,000 | $459,000 |
| 2023 | $14,175 | $1,100,000 | $650,000 | $450,000 |
| 2022 | $12,164 | $917,350 | $536,947 | $380,403 |
| 2021 | $11,899 | $899,364 | $526,419 | $372,945 |
| 2020 | $13,904 | $890,663 | $521,022 | $369,641 |
| 2019 | $11,729 | $873,210 | $510,806 | $362,404 |
| 2018 | $11,386 | $856,100 | $500,791 | $355,309 |
| 2017 | $11,265 | $838,805 | $490,972 | $347,833 |
| 2016 | $10,478 | $822,359 | $481,346 | $341,013 |
| 2015 | $10,070 | $810,007 | $474,116 | $335,891 |
| 2014 | $10,021 | $794,141 | $464,829 | $329,312 |
Source: Public Records
Agents Affiliated with this Home
-
Robert Stepp
-
S
Buyer's Agent in 2022
Sam Alherech
Buckingham Investments, Inc
-
Malcolm Zeger
Buyer Co-Listing Agent in 2022
Malcolm Zeger
Buckingham Investments, Inc
(626) 483-7983
1 in this area
13 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW22115594
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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