Seller's Agent in 2020
Chris van Vuuren
Lyon Stahl Investment Real Estate, Inc.
(714) 655-0098
2 in this area
22 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
- Tile Flooring
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 | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 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
| 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 | $20,894 | $1,623,648 | $541,216 | $1,082,432 |
| 2024 | $20,894 | $1,591,812 | $530,604 | $1,061,208 |
| 2023 | $20,544 | $1,560,600 | $520,200 | $1,040,400 |
| 2022 | $19,287 | $1,530,000 | $510,000 | $1,020,000 |
| 2021 | $18,899 | $1,500,000 | $500,000 | $1,000,000 |
| 2020 | $12,268 | $936,900 | $416,160 | $520,740 |
| 2019 | $12,126 | $918,540 | $408,000 | $510,540 |
| 2018 | $10,531 | $800,540 | $472,300 | $328,240 |
| 2016 | $8,882 | $700,000 | $413,300 | $286,700 |
| 2015 | $8,092 | $650,000 | $383,800 | $266,200 |
| 2014 | $7,291 | $570,000 | $336,600 | $233,400 |
Source: Public Records
Agents Affiliated with this Home
-
Chris van Vuuren
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB20227183
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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