Seller's Agent in 2020
Chris van Vuuren
Lyon Stahl Investment Real Estate, Inc.
(714) 655-0098
3 in this area
23 Total Sales
1516 Cedar Ave Long Beach, CA 90813
Washington School Neighborhood
11
Beds
5
Baths
4,495
Sq Ft
8,046
Sq Ft Lot
Highlights
- Gated Community
- Double Pane Windows
- Laundry Room
- Granite Countertops
- Wainscoting
- 4-minute walk to 14th Street Park
About This Home
As of December 2020Pleased to present 1516 Cedar Ave, a meticulously renovated apartment complex in Long Beach, California. The seller spent roughly $250,000 on a full remodel completed in 2019. Located in the path of progress as there are over 750 new construction units within a .25 mile radius.
The subject property offers five spacious units comprised of two (2) 3-bd/1-ba, two (2) 2-bd/1-ba and one (1) 1-bd/1-ba across two buildings totaling 4,495 square feet. Situated on an oversized 8,046 square foot lot, 1516 Cedar boasts an 87 walk score and has a courtyard with drought resistant landscaping providing a desirable open-air space for the residents. Every unit has brand-new front-loading washers and dryers and there are four (4) garages.
Extensive interior renovations at a cost of over $35,000/unit include all new copper plumbing, electrical wiring & meters, kitchens, bathrooms, doors, drywall, flooring, paint, trim, lighting and fixtures throughout. Exterior renovations include new roofing, paint, rear stairway, dual pane & double hung windows, garage doors and removal of several trees.
1516 Cedar Avenue’s location, cashflow and high-end renovations provides an investor with the opportunity to own a brand-new condition asset that will minimize their cost and maximize their return over a long investment horizon.
Last Agent to Sell the Property
Lyon Stahl Investment Real Estate, Inc. License #02060007 Listed on: 10/27/2020
Last Buyer's Agent
Lyon Stahl Investment Real Estate, Inc. License #02060007 Listed on: 10/27/2020
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1915
Lot Details
- 8,046 Sq Ft Lot
- Two or More Common Walls
Parking
- 4 Car Garage
- Parking Available
- Rear-Facing Garage
Home Design
- Property Attached
- Turnkey
- Raised Foundation
- Composition Roof
- Copper Plumbing
- Stucco
Interior Spaces
- 4,495 Sq Ft Home
- Wainscoting
- Double Pane Windows
Kitchen
- Gas Oven
- Gas Range
- Range Hood
- Microwave
- Dishwasher
- Granite Countertops
- Disposal
Flooring
- Laminate
- Tile
Bedrooms and Bathrooms
- 11 Bedrooms
- 5 Bathrooms
Laundry
- Laundry Room
- Stacked Washer and Dryer
Home Security
- Carbon Monoxide Detectors
- Fire and Smoke Detector
Outdoor Features
- Exterior Lighting
- Rain Gutters
Utilities
- Wall Furnace
- Water Heater
Listing and Financial Details
- Tenant pays for electricity, gas, trash collection
- Tax Lot 20
- Tax Tract Number 575401
- Assessor Parcel Number 7269002010
Community Details
Overview
- 2 Buildings
- 5 Units
- Downtown Subdivision
Building Details
- Rent Control
- 5 Separate Electric Meters
- 5 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $225
- Insurance Expense $2,556
- Professional Management Expense $6,027
- Water Sewer Expense $1,602
- New Taxes Expense $19,928
- Operating Expense $35,146
- Gross Income $124,200
- Net Operating Income $85,400
Security
- Gated Community
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/15/2020 12/15/20 | Sold | $1,500,000 | -4.8% | $334 / Sq Ft |
| 11/13/2020 11/13/20 | Pending | -- | -- | -- |
| 10/27/2020 10/27/20 | For Sale | $1,575,000 | -- | $350 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Chris van Vuuren
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB20227183
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