Seller's Agent in 2019
Kevin King
Marcus & Millichap
(562) 257-1245
41 Total Sales
2382 Cedar Ave Long Beach, CA 90806
South Wrigley Neighborhood
2
Beds
2
Baths
7,512
Sq Ft
6,503
Sq Ft Lot
About This Home
As of November 2019We 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
Marcus & Millichap License #01158184 Listed on: 09/17/2019
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
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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 |
|---|---|---|---|---|
| 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
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 | $28,257 | $2,187,290 | $1,093,645 | $1,093,645 |
| 2024 | $28,257 | $2,144,402 | $1,072,201 | $1,072,201 |
| 2023 | $27,778 | $2,102,356 | $1,051,178 | $1,051,178 |
| 2022 | $26,077 | $2,061,134 | $1,030,567 | $1,030,567 |
| 2021 | $25,536 | $2,020,720 | $1,010,360 | $1,010,360 |
| 2020 | $25,468 | $2,000,000 | $1,000,000 | $1,000,000 |
| 2019 | $13,658 | $1,009,341 | $302,795 | $706,546 |
| 2018 | $13,291 | $989,551 | $296,858 | $692,693 |
| 2016 | $12,200 | $951,128 | $285,332 | $665,796 |
| 2015 | $11,728 | $936,843 | $281,047 | $655,796 |
| 2014 | $11,678 | $918,492 | $275,542 | $642,950 |
Source: Public Records
Agents Affiliated with this Home
-
Kevin King
-
Anthony Walker
Buyer's Agent in 2019
Anthony Walker
Buckingham Investments, Inc
(310) 982-7055
6 in this area
91 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW19222261
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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