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Harut Hajibekyan

Engel & Völkers

harut.hajibekyan@engelvoelkers.com +1(818) 966-4446

$ 1,150,000

Est. payment -/mo

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1526 Cedar AVE Long Beach, CA 90813

7,736 Sqft Lot

UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Washington District

MLS Listing ID SB25233154

HOA Y/N No

Year Built 1926

Lot Size 7,736 Sqft

Property Sub-Type Apartment

Property Description

1526 Cedar Avenue is a six-unit multifamily asset located in the Washington District of Long Beach, offering investors a true value-add opportunity with multiple paths to increase income and long-term value. Sitting on a large 7,735 square foot lot, the property provides the potential to add an ADU by converting the detached garages or utilizing the middle section of the lot, which would significantly boost future income (Buyer to Verify). In addition, the building features one vacant unit that allows a new owner to capture market rent immediately, while the property overall offers approximately 21.5% rental upside. The unit mix consists of (1) two-bedroom, one-bath unit and (5) one-bedroom, one-bath units. The property is also well-positioned near George Washington Middle School, which is currently undergoing a $175 million modernization project that will drive continued neighborhood improvement and tenant demand. Altogether, 1526 Cedar presents investors with the chance to capitalize on immediate income growth, long-term development potential, and the benefits of a rapidly gentrifying area.

Location

State CA

County Los Angeles

Area 5 - Wrigley Area

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Sidewalks, Urban

Total Parking Spaces 10

Private Pool No

Building

Lot Description Rectangular Lot

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7269002009

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

Listed by Stephen Takahashi Lyon Stahl Investment Real Estate, Inc. 310-403-9145

Harut Hajibekyan

Advisor | License ID: 02234267

+1(818) 966-4446

Harut Hajibekyan

1526 Cedar AVE Long Beach, CA 90813

Key Details

Location

Interior

Exterior

Building

Others

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1526 Cedar AVE