NOT LISTED FOR SALE

2382 Cedar Ave Long Beach, CA 90806

South Wrigley Neighborhood
2 Beds
2 Baths
7,512 Sq Ft
6,503 Sq Ft Lot

Last Sold November 12, 2019

Last sale price $2,000,000 $266 Per Sq Ft

22 Days on Market

About This Home

As of November 2019

We are pleased to present an eight-unit multifamily property located in an excellent rental market of Long Beach, California. Built in 1986, the property has approximately 7,512 rentable square feet on a 6,501 square foot lot. The subject property has a great unit mix of all two-bedroom / two-bathroom units. Owners enjoy the high demand for rentals in a coastal city. This a rare opportunity to acquire a quality asset in an outstanding rental market and would make a great addition to any investors portfolio.

The city of Long Beach continues to progress forwards and is currently experiencing major redevelopment of $3.5 billion. An example of this large-scale redevelopment is the Long Beach Civic Center, which is completed late 2019. The Civic Center will include a new city hall and the Port of Long Beach headquarters, as well as multi-family residential units. Long Beach sustains its ability to attract renters due to its strong economy and high quality of life.

Last Agent to Sell the Property

Kevin King

Marcus & Millichap License #01158184 Listed on: 09/17/2019

Last Buyer's Agent

Anthony Walker

Buckingham Investments, Inc License #01908153

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1986

Lot Details

  • 6,503 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Home Design

  • Property Attached

Interior Spaces

  • 7,512 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Bathrooms

Utilities

  • Floor Furnace
  • Septic Type Unknown

Listing and Financial Details

  • Legal Lot and Block 2 / 4
  • Tax Tract Number 573100
  • Assessor Parcel Number 7205016002

Community Details

Overview

  • 8 Units

Building Details

  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,200
  • Fuel Expense $1,200
  • Gardener Expense $1,200
  • Insurance Expense $3,005
  • Maintenance Expense $5,200
  • Other Expense $2,000
  • Professional Management Expense $5,238
  • Trash Expense $1,200
  • Water Sewer Expense $1,200
  • New Taxes Expense $24,750
  • Operating Expense $46,193
  • Gross Income $108,000
  • Net Operating Income $58,567

Property Details

Home Type

Multi-Family

Year Built

Built in 1986

Lot Details

0

Listing Details

  • Professional Management Expense: 5238.00
  • Property Attached: Yes
  • Subdivision Name Other: Eastside (ES)
  • Water Sewer Expenses: 1200.00
  • Zoning: LBR1N
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7205016002
  • Year Built: 1986
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 1
  • Common Walls: 2+ Common Walls
  • Levels: One, Two
  • Price Per Square Foot: 266.24

Exterior Features

  • Pool Private: No

Utilities

  • Heating: Yes
  • Laundry: No
  • Heating Type: Floor Furnace
  • Sewer: Public Sewer, Septic Type Unknown
  • Trash Expense: 1200.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 6503.00
  • Lot Size Acres: 0.1493

Multi Family

  • Electric Expense: 1200.00
  • Fuel Expense: 1200.00
  • Gross Income: 108000.00
  • Gross Scheduled Income: 108000.00
  • Insurance Expense: 3005.00
  • Lot Size Area: 6503.0000 Square Feet
  • Maintenance Expense: 5200.00
  • Net Operating Income: 58567.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 8
  • Operating Expense: 46193.00
  • Other Expense: 2000.00
  • Other Expense Description: Misc.
  • Rent Control: No
  • Total Actual Rent: 9000.00
  • Total Expenses: 46193.00

Tax Info

  • New Taxes Expense: 24750.00
  • Tax Block: 4
  • Tax Census Tract: 5731.00
  • Tax Lot: 2
  • Tax Tract Number: 573100

Range of Values:

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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 Change Sq Ft Price
11/12/2019 11/12/19 Sold $2,000,000 -9.1% $266 / Sq Ft
10/09/2019 10/09/19 Pending -- -- --
09/17/2019 09/17/19 For Sale $2,200,000 -- $293 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Kevin King

    Seller's Agent in 2019

    Kevin King

    Marcus & Millichap

    (562) 257-1245

    45 Total Sales

    Kevin King
    Section Image
  • Anthony Walker

    Buyer's Agent in 2019

    Anthony Walker

    Buckingham Investments, Inc

    (310) 982-7055

    5 in this area

    80 Total Sales

    Anthony Walker
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW19222261

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90806 South Wrigley

2382 Cedar Ave, Long Beach, CA

This home is located at 2382 Cedar Ave, Long Beach, CA 90806 since 17 September 2019. This property was built in 1986. 2382 Cedar Ave is a home located in Los Angeles County with nearby schools including Lafayette Elementary School, Washington Middle School, and Juan Rodriguez Cabrillo High School.

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.

California Regional Multiple Listing Service (CRMLS) 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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