820 Cedar Ave — Sale in Long Beach, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Long Beach, CA 90813

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Investment Figures

Cap rate
5.20%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present the opportunity to acquire 820 Cedar Avenue, a 16-unit multifamily investment property located in Long Beach, California. 820 Cedar Avenue was built in 1928 and features a unit mix of 12 studios and 4 1-bedroom/1-bath units across approximately 10,584 square feet of net rentable area. The controlled-access property features interior hallways leading to the residences, an on-site laundry facility and 6 garage parking spaces. The laundry facility provides a convenient tenant amenity and ancillary income stream, while the garage spaces offer additional parking utility and revenue potential. The property has undergone substantial interior and building-system improvements. Ownership reports that all units feature new kitchens and bathrooms, with 14 of the 16 units taken down to the studs. Ownership also upgraded the property’s plumbing to copper, while electrical subpanels were upgraded in 13 of the 16 units. 820 Cedar Avenue is located near Downtown Long Beach and a short distance from the East Village Arts District, providing residents with convenient access to dining, entertainment and employment destinations throughout the city. The property is also near Shoreline Marina, the waterfront and the city’s beaches, while nearby I-710 provides connectivity throughout the region. The Ports of Long Beach and Los Angeles are also readily accessible from the property. 820 Cedar Avenue combines substantial interior and building-system improvements with practical resident amenities and proximity to major employment, entertainment and coastal destinations throughout Long Beach. Investment Highlights: • 16-Unit Coastal Asset: 12 studios and 4 1BD/1BA units in Long Beach. • Heavy Renovations: 14 units taken to the studs; all feature new kitchens, baths, copper plumbing, and upgraded electrical. • Extra Revenue: 6 rentable garage spaces and on-site laundry facilities. • Prime Location: Minutes to Downtown, East Village Arts District, beaches

Market Context

This multifamily in Long Beach, CA is listed for sale. It is offered at an approximate 5.2% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Long Beach, CA — view the full market.

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