NOT LISTED FOR SALE

2425 Cedar Ave Long Beach, CA 90806

South Wrigley Neighborhood

Estimated Value: $1,683,571 - $1,942,000

7 Beds
5 Baths
4,230 Sq Ft
$429/Sq Ft Est. Value

Last Sold June 26, 2023

Last sale price $1,565,000 $370 Per Sq Ft

Est. 15% increase in value since last sale

Current estimated payment $11,232/month

111 Days on Market

About This Home

As of June 2023

We are pleased to present 2425 Cedar Avenue, a 5-unit investment property in Long Beach, California. The property is located between Willow and Burnett Streets just off Pacific Avenue. This area is a solid majority-renter market with low vacancy rates. 2425 Cedar Avenue consists of two 2 bedroom 1 bathroom units and three 1 bedroom 1 bathroom units. All of the units are separately metered for gas and electricity. The property also offers four single car garages plus surface parking. This offering presents a great opportunity for an investor to acquire an asset with steady cash flow in a strong rental market and capture potential upside in rents.

Last Agent to Sell the Property

Jonathan Weir

Marcus & Millichap License #02038545 Listed on: 01/19/2023

Last Buyer's Agent

Victor Fonseca

Keller Williams Realty License #01801376

Keller Williams Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1956

Lot Details

  • 6,582

Parking

  • 2 Open Parking Spaces
  • 4 Car Garage

Interior Spaces

  • 4,230 Sq Ft Home
  • 2-Story Property
  • Dishwasher

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 5 Bathrooms

Additional Features

  • 6,582 Sq Ft Lot
  • Heating System Mounted To A Wall or Window

Community Details

  • 2 Buildings
  • 5 Units

Listing and Financial Details

  • Assessor Parcel Number 7205-010-019

Property Details

Home Type

Multi-Family

Year Built

Built in 1956

Lot Details

0

Parking

4

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 4230
  • Lot Acreage: 0.1511
  • Probate: No
  • Stories: 2
  • Year Built: 1956
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 7
  • Total Bathrooms: 5.00
  • Equipment: Dishwasher, Refrigerator
  • Price Per S Q F T: 378.25

Exterior Features

  • Other Structures: None

Garage/Parking

  • Garage Spaces: 4
  • Other Spaces: 2
  • Parking Garage: Garage - 1 Car, Uncovered
  • Total Parking: 6

Utilities

  • Heating: Wall

Lot Info

  • Assessed Improvement Percent: 64.37
  • Assessed Improvement Value: 968733
  • Assessed Land Percent: 35.63
  • Assessed Land Value: 536100
  • Total Assessed Value: 1504833
  • Assessor Parcel Number: 7205-010-019
  • Lot Size Area: 6582

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110
  • Gross Rent Multiplier: 13.90
  • Number Of Units: 5
  • Type Of Units: standard
  • Vacancy Allow Percent: 3.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 9, 2020
Sold by
Takahashi Keiichi
Bought by
Takahashi Keiichi and The Keiichi Takahashi Trust
Current Estimated Value
$1,806,016

Purchase Details

Closed on
Dec 22, 2017
Sold by
Aoyam
Bought by
Takah

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Interest Rate
3.94%

Purchase Details

Listed on
Feb 22, 2017
Closed on
Mar 9, 2017
Sold by
Penn Properties Llc
Bought by
Aoyama Zaisan Networks Usa Inc
Seller's Agent
Kurt Wood
Belmont Brokerage & Mgmt. INC.
Buyer's Agent
John Chelius
Property Works RE, Inc.
List Price
$995,000
Sold Price
$1,015,000
Premium/Discount to List
$20,000
2.01%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.89%

Purchase Details

Closed on
Feb 28, 2014
Sold by
Abrams Arthur J and Abrams Clair
Bought by
Penn Properties Llc

Purchase Details

Closed on
Jun 14, 2006
Sold by
Abrams Arthur J and Abrams Claire
Bought by
Abrams Arthur J and Abrams Claire

Purchase Details

Closed on
May 6, 2003
Sold by
Machado Manuel A and Machado Angelina Z
Bought by
Abrams Arthur J and Abrams Claire

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$336,000
Interest Rate
6%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 10, 2000
Sold by
Utranusorn Prasath and Utranusorn Vipa
Bought by
Ctvrtlik Jeffrey M and Ctvrtlik Joyce

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$142,000
Interest Rate
8.22%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Takahashi Keiichi -- None Available
Takah -- --
Aoyama Zaisan Networks Usa Inc $1,015,000 Fidelity National Title Co
Penn Properties Llc $675,000 Fidelity National Title Co
Abrams Arthur J -- None Available
Abrams Arthur J $515,000 --
Ctvrtlik Jeffrey M $190,000 Fidelity National Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed Takah --
Previous Owner Abrams Arthur J $336,000
Previous Owner Ctvrtlik Jeffrey M $142,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
06/26/2023 06/26/23 Sold $1,565,000 -2.2% $370 / Sq Ft
05/10/2023 05/10/23 Pending -- -- --
03/18/2023 03/18/23 For Sale $1,600,000 0.0% $378 / Sq Ft
03/16/2023 03/16/23 Pending -- -- --
03/07/2023 03/07/23 For Sale $1,600,000 0.0% $378 / Sq Ft
02/26/2023 02/26/23 Pending -- -- --
01/19/2023 01/19/23 For Sale $1,600,000 +57.6% $378 / Sq Ft
04/05/2017 04/05/17 Sold $1,015,000 +2.0% $240 / Sq Ft View Prior Sale
02/28/2017 02/28/17 Pending -- -- --
02/22/2017 02/22/17 For Sale $995,000 +47.4% $235 / Sq Ft
05/23/2014 05/23/14 Sold $675,000 0.0% $160 / Sq Ft View Prior Sale
02/21/2014 02/21/14 Pending -- -- --
02/14/2014 02/14/14 For Sale $675,000 -- $160 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

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 $20,904 $1,628,226 $598,230 $1,029,996
2024 $20,904 $1,596,300 $586,500 $1,009,800
2023 $20,178 $1,534,929 $546,822 $988,107
2022 $18,942 $1,504,833 $536,100 $968,733
2021 $18,561 $1,475,328 $525,589 $949,739
2020 $18,513 $1,460,201 $520,200 $940,001
2019 $18,297 $1,431,570 $510,000 $921,570
2018 $17,786 $1,403,500 $500,000 $903,500
2016 $8,843 $698,984 $258,883 $440,101
2015 $8,498 $688,486 $254,995 $433,491
2014 -- $585,707 $266,757 $318,950
Source: Public Records

Agents Affiliated with this Home

  • Jonathan Weir

    Seller's Agent in 2023

    Jonathan Weir

    Marcus & Millichap

    (310) 909-5500

    1 in this area

    69 Total Sales

    Jonathan Weir
    Section Image
  • Victor Fonseca

    Buyer's Agent in 2023

    Victor Fonseca

    Keller Williams Realty

    (949) 584-0630

    1 in this area

    16 Total Sales

    Victor Fonseca
    Section Image
  • Kurt Wood

    Seller's Agent in 2017

    Kurt Wood

    Belmont Brokerage & Mgmt. INC.

    (562) 301-6763

    20 Total Sales

    Kurt Wood
    Section Image

  • J

    Buyer's Agent in 2017

    John Chelius

    Property Works RE, Inc.

    (310) 722-0360

    5 Total Sales

    John Chelius
    Section Image
  • Spencer Pabst

    Seller's Agent in 2014

    Spencer Pabst

    Pabst, Kinney & Associates

    (562) 884-6875

    5 in this area

    52 Total Sales

    Spencer Pabst
    Section Image
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Map

Source: The MLS

MLS Number: 23-234221

The MLS

APN: 7205-010-019

California Los Angeles County Long Beach 90806 South Wrigley

2425 Cedar Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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