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Listed by Cody J. Charnell • Sage Real Estate Group, Inc.
$ 2,075,000
Est. payment /mo
New
1924 Cedar Avenue Long Beach, CA 90806
5,112 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 5,112 sqft
Price per Sqft $405
MLS Listing ID PW-25191546
Style Spanish
Year Built 1932
Lot Size 8,145 Sqft
Property Sub-Type Apartment
Property Description
Spanish-style 8-unit apartment building located in the South Wrigley neighborhood of Long Beach. The property recently received a full exterior refresh and the interiors have been renovated at different times over the past five years. The building is in good condition with strong in-place rents, offering stable income and future upside.
The property includes 8 garages at the rear that are currently unused and offer a new owner several opportunities to add value. A new owner could: Lease the garages for extra parking income, Convert the garages into ADUs, or take advantage of SB 1211, which may allow up to 8 new ADUs on the site (buyer to verify). If developed, 8 new studio ADUs rented at $1,500/month could add $144,000 in gross annual income. This property offers classic curb appeal, updated interiors, steady cash flow, and multiple opportunities to increase revenue.
The property includes 8 garages at the rear that are currently unused and offer a new owner several opportunities to add value. A new owner could: Lease the garages for extra parking income, Convert the garages into ADUs, or take advantage of SB 1211, which may allow up to 8 new ADUs on the site (buyer to verify). If developed, 8 new studio ADUs rented at $1,500/month could add $144,000 in gross annual income. This property offers classic curb appeal, updated interiors, steady cash flow, and multiple opportunities to increase revenue.
Location
State CA
County Los Angeles
Area 5 - Wrigley Area
Zoning LBR2N
Interior
Heating Wall Furnace
Fireplaces Type None
Laundry Common Area
Exterior
Garage Spaces 8.0
Pool None
Community Features Urban
View Y/N No
View None
Building
Lot Description 6-10 Units/Acre
Sewer Public Sewer
Nicole Van Parys & Gary Nesen
License Partners, Private Office Advisors | License ID: 01108944