NOT LISTED FOR SALE

1601 Cedar Ave Long Beach, CA 90813

Washington School Neighborhood
7 Beds
6 Baths
3,751 Sq Ft
6,403 Sq Ft Lot

Last Sold November 08, 2016

Last sale price $790,000 $211 Per Sq Ft

3 Days on Market

About This Home

As of November 2016

A large, 1500+ square foot, beautiful detached three bedroom Spanish Style Home with four, 1 bed, 1 bath 1960's constructed apartments in the back. Every unit has washer/dryer hookups conducive to longer term tenants and higher rents. Parking is available in the front driveway and in the rear alley. The improvements are ideally suitable for an owner/user, extended family, or for pure investment purposes.

The property is located east of Magnolia Avenue, south of Pacific Coast Highway and just north redeveloped of downtown Long Beach.

Last Agent to Sell the Property

Derek Fowler

Re/Max Commercial & Investment License #01319692 Listed on: 10/17/2016

Re/Max Commercial & Investment

Last Buyer's Agent

Jon Swire

The Agency License #01336277

The Agency

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1930

Lot Details

  • 6,403 Sq Ft Lot
  • Lot Dimensions are 43x151
  • 1 Common Wall
  • Density is up to 1 Unit/Acre

Parking

  • 2 Car Garage
  • Parking Available
  • Tandem Uncovered Parking
  • Driveway
  • Uncovered Parking
  • Assigned Parking

Home Design

  • 3,751 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 6 Bathrooms

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 016 / 039
  • Tax Tract Number 7269
  • Assessor Parcel Number 7269039016

Community Details

Overview

  • 2 Buildings
  • 5 Units

Building Details

  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 2 Separate Water Meters
  • Electric Expense $50
  • Insurance Expense $1,690
  • Other Expense $8,855
  • Professional Management Expense $3,120
  • Trash Expense $200
  • Water Sewer Expense $50
  • New Taxes Expense $9,480
  • Gross Income $62,400
  • Net Operating Income $35,805

Property Details

Home Type

Multi-Family

Year Built

Built in 1930

Lot Details

0

Parking

2

Listing Details

  • CapRate: 4.53
  • Professional Management Expense: 3120.00
  • Property Attached: Yes
  • Subdivision Name Other: Downtown (DT)
  • Water Sewer Expenses: 50.00
  • Zoning: LBR4N
  • Property Type: Residential Income
  • Parcel Number: 7269039016
  • Year Built: 1930
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Levels: Two
  • Price Per Square Foot: 210.61

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Parking: Yes
  • Parking Features: Assigned, Uncovered, Driveway, Garage, Tandem Uncovered
  • Total Parking Spaces: 9.00

Utilities

  • Sewer: Public Sewer
  • Trash Expense: 200.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size: 43x151
  • Lot Size Sq Ft: 6403.00

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average1 Bed Area: 510 Square Feet
  • Average3 Bed Area: 1540 Square Feet
  • Electric Expense: 50.00
  • Gross Income: 62400.00
  • Gross Multiplier: 12.66
  • Gross Scheduled Income: 62400.00
  • Insurance Expense: 1690.00
  • Net Operating Income: 35805.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 2
  • Number Of Units Total: 5
  • Operating Expense: 23475.00
  • Operating Expense Percent: 37.62
  • Other Expense: 8855.00
  • Rent Control: No
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 9480.00
  • Tax Block: 039
  • Tax Census Tract: 5754.01
  • Tax Lot: 016
  • Tax Tract Number: 7269

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/08/2016 11/08/16 Sold $790,000 0.0% $211 / Sq Ft
10/20/2016 10/20/16 Pending -- -- --
10/17/2016 10/17/16 For Sale $790,000 -- $211 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Derek Fowler

    Seller's Agent in 2016

    Derek Fowler

    RE/MAX

    (310) 802-2552

    2 Total Sales

    Derek Fowler
    Section Image
  • Jon Swire

    Buyer's Agent in 2016

    Jon Swire

    The Agency

    (310) 948-2631

    3 in this area

    34 Total Sales

    Jon Swire
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB16728083

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90813 Washington School

1601 Cedar Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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