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1035 Cedar Ave, Long Beach, CA 90813
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1035 Cedar Ave Long Beach, CA 90813

$1,100,000 Sold Price as of 08/23/2022
  • 8 Beds
  • 8 Baths
  • 4,141 Sq.Ft.
Sold
$1,100,000 Sold Price as of 08/23/2022 Refinance Your Mortgage
Map preview of 1035 Cedar Ave, Long Beach, CA 90813

Property Overview: 1035 Cedar Ave Long Beach, CA has 8 bedrooms, 8 bathrooms, 4,141 living square feet and 7,456 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 1035 Cedar Avenue is a 6 +1 non-conforming unit investment asset located in the up-and-coming Willmore Historic District. The property consists of a variety of unit types, including (1) 3 BD/2 BA, (1) 2 BD/1 BA, (3) 1 BD/1 BA, (1) studio, and (1) bachelor (no kitchen) unit. There is onsite laundry providing current income, as well two garages on the property and a driveway with tandem-parking potential. One of the garages provides the opportunity for a 1 BD / 1 BA ADU conversion that would increase rental income by $19,200 annually. Additional increased income potential can be achieved by converting the building to separate meters. The property is conveniently located adjacent to the many employment opportunities and modern conveniences of Downtown Long Beach. The location is also favorable to commuters with easy access to the 710 and 405 freeways as well as the Metro Blue Line, which runs from Long Beach to Downtown Los Angeles. This is an excellent opportunity for an investor to get into a neighborhood that is quickly gentrifying.

Listed by Robert Stepp | BRE #01456379 | Keller Williams - Santa Monica
Last checked: 3 minutes ago | Last updated: September 2nd, 2022 | Source CRMLS | DOM: 49

Home details

Lot Sq. Ft
7,456
HOA Dues
$0/mo
Year built
1935
Garage
1 Car
Property Type:
Multi Family
Status
Sold
MLS#
PW22115594
City
Long Beach
County
Los Angeles
Time on Site
718 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 4
  • # of Electric Meters: 1
  • # of Gas Meters: 1
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 3
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,129
  • Total Rent: $3,387
  • Pro Forma/Market Rent: $1,600
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,155
  • Total Rent: $1,155
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,680
  • Total Rent: $1,680
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 4
  • # of Units: 2
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $680
  • Total Rent: $1,360
  • Pro Forma/Market Rent: $1,350
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $93,870
  • Net Operating Income: $43,119
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $46,058
  • Electric: $4,074
  • Gas/Fuel: $4,074
  • Licenses: $700
  • New Taxes: $16,665
  • Trash: $4,074
  • Gardener: $1,200
  • Insurance: $2,485
  • Maintenance: $3,500
  • Professional Management: $4,549
  • Water/Sewer: $4,074
  • Other Expenses: $1,750
  • Other Expense Description: Reserves

Property Details for 1035 Cedar Ave

Interior Features
Laundry Information
  • Has Laundry
  • Common Area
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 1
  • # of Parking Spaces: 3
  • Has Parking
  • Parking Features: Driveway, Garage
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 7
  • Parcel Number: 7272006013
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Cedar Ave & 10th St
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 1035 Cedar Ave

Last sold for $1,100,000 on August 23rd, 2022

  • August, 2022

  • Aug 23, 2022

    Date

    Sold

    CRMLS: PW22115594

    $1,100,000

    Price

  • May 31, 2022

    Date

    Active

    CRMLS: PW22115594

    $1,300,000

    Price

  • October, 2003

  • Oct 29, 2003

    Date

    Sold (Public Records)

    Public Records

    $592,000

    Price

  • October, 2003

  • Oct 29, 2003

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1035 Cedar Ave

Assessed Value (2020): $890,663
Year Land Value Improved Value Assessed Value
2020 $521,022 $369,641 $890,663

Home Value Compared to the Market

This property vs the competition

1035 Cedar Ave sold on August 23, 2022 for 43.75% higher than the current median sold price for the city of Long Beach which is $800,000. The median sold price per/sqft for Long Beach is $632 and this home is sold at $277.71 per/sqft which puts the price per square foot 56.06% lower than the current median sale per square foot for the city of Long Beach.

About 1035 Cedar Ave

Detailed summary of property

1035 Cedar Ave is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 8 bedrooms, 8 bathrooms, roughly 4,141 living square feet, and sits on an approximately 7,456 square foot lot. 1035 Cedar Ave was first listed on ArdentRealEstateGroup.com on May 31, 2022. The homeowner sold the property for $1,100,000. Home in Long Beach are selling for a median price of $800,000 and a median price per square foot of $632. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 43.75% higher than the current median priced home. Local homes that are currently for sale include 1731 E 3rd St, 1746 E Florida St and 1615 Cherry Ave. While the average home in Long Beach, CA is selling in 51 days, 1035 Cedar Ave has a days on market of 49 days. There are currently 639 homes for sale in the Long Beach real estate market and 366 of them are single family homes while 259 of them are condos and 14 are townhomes. For more information on this home for sale at 1035 Cedar Ave Long Beach, CA 90813 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1035 Cedar Ave

Public county record property details
Beds
7
Baths
6
Year built
1935
Sq. Ft.
4,141
Lot Size
7,455
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
4
APN
7272-006-013

The source for these homes facts are from public records.

90813 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$570,000
Median List Price/Sq.Ft.
$546
Median Sold Price
$584,000
Median Sold Price/Sq.Ft.
$592
Total Inventory
34
Median Sale to List Price %
108.35%
Avg Days on Market
23
Loan Type
Conventional (80%), FHA (10%), VA (10%), Cash (0%), Other (0%)

Thinking of Selling?

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Recently Sold Homes Near 1035 Cedar Ave

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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