Seller's Agent in 2025
Spencer Pabst
Pabst, Kinney & Associates
(562) 884-6875
5 in this area
52 Total Sales
1960 Cedar Ave Long Beach, CA 90806
South Wrigley Neighborhood
20
Beds
10
Baths
7,088
Sq Ft
8,129
Sq Ft Lot
Highlights
- Laundry Room
- Rectangular Lot
- Wall Furnace
About This Home
As of June 2025Price Improvement! Located in the desirable Wrigley area of Long Beach, 1960 Cedar Ave. is a well-maintained 11 unit garden style apartment building comprised of (2) 3bd/1bth units, (6) 2bd/1bth units, (2) 1bd/1bth units, (1) studio, and 5 single car garages. Originally built in 1944, and consisting of 7,088 rentable square feet on a large 8,129 square foot lot. The property is separately metered for gas and electricity, and features gated entry, vinyl pane windows, and community laundry. Priced attractively at $218,182 per unit, and $338.60 per SF, 6.23% CAP RATE, 9.88x GRM on current rents, with room to increase rents. Realistic MARKET CAP RATE of 7.89%. An attractive opportunity for a new owner! The property is in an excellent location in the South Wrigley neighborhood of Long Beach. Residents enjoy convenient access to everyday needs at Wrigley Market, an Albertsons anchored retail center located blocks from the property. Additionally, 1880 Cedar is just over 1.75 miles from the abundance of retail, dining, and entertainment options in Downtown Long Beach. It also benefits from its optimal location near Willow Street, Pacific Coast Highway, and 405 and 710 freeways, providing residents easy access to employment hubs throughout Southern California. The overall demand for well-located and maintained apartment building will be a key driver in the continued growth and success at 1960 Cedar Ave. Can be purchased with the 10 units listed at 1880 Cedar Ave.!
Last Agent to Sell the Property
Pabst, Kinney & Associates Brokerage Phone: 562-884-6875 License #01849377 Listed on: 10/02/2024
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1944
Lot Details
- 8,129 Sq Ft Lot
- No Common Walls
- Rectangular Lot
Parking
- 5 Car Garage
- Parking Available
- Assigned Parking
Home Design
- Entry on the 1st floor
Interior Spaces
- 7,088 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 20 Bedrooms
- 10 Bathrooms
Utilities
- Wall Furnace
Listing and Financial Details
- Legal Lot and Block 9 / 4
- Tax Tract Number 5730
- Assessor Parcel Number 7209023011
- Seller Considering Concessions
Community Details
Overview
- 11 Units
- Wrigley Area Subdivision
Amenities
- Laundry Facilities
Building Details
- 11 Leased Units
- 12 Separate Electric Meters
- 12 Separate Gas Meters
- 1 Separate Water Meter
- Gross Income $20,190
- Net Operating Income $242,280
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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 |
|---|---|---|---|---|---|
| 06/17/2025 06/17/25 | Sold | $2,140,000 | -10.8% | $302 / Sq Ft | |
| 04/14/2025 04/14/25 | Pending | -- | -- | -- | |
| 02/27/2025 02/27/25 | Price Changed | $2,400,000 | -7.7% | $339 / Sq Ft | |
| 10/02/2024 10/02/24 | For Sale | $2,600,000 | +129.1% | $367 / Sq Ft | |
| 02/15/2013 02/15/13 | Sold | $1,135,000 | -1.3% | $160 / Sq Ft | View Prior Sale |
| 11/11/2012 11/11/12 | Pending | -- | -- | -- | |
| 11/01/2012 11/01/12 | For Sale | $1,150,000 | -- | $162 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Spencer Pabst
-
Josh Ess
Buyer's Agent in 2025
Josh Ess
Buckingham Investments, Inc
(310) 982-7055
4 in this area
37 Total Sales
-
Francisco Arce
F
Seller's Agent in 2013
Francisco Arce
CJM Realty
(310) 528-3043
7 Total Sales
-
Marsha Covert
Buyer's Agent in 2013
Marsha Covert
Capital-Growth Properties
(562) 280-0188
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW24203754
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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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