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1044 Cedar Ave, Long Beach, CA 90813
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1044 Cedar Ave Long Beach, CA 90813

$1,275,000
  • 12 Beds
  • 7 Baths
  • 4,766 Sq.Ft.
For Sale
$1,275,000 Get Pre-Qualified
Map preview of 1044 Cedar Ave, Long Beach, CA 90813

Property Overview: 1044 Cedar Ave Long Beach, CA has 12 bedrooms, 7 bathrooms, 4,766 living square feet and 7,451 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: ***Just reduced by $220,000***6.8% Cap Rate***SIX unit building just north of Downtown Long Beach. Property consists of a 4 bed 2 bath Craftsman single family home in front, and a rear building with 5 additional units (TWO 2bed 1 bath units, TWO 1 bed 1 bath units, and ONE non-conforming 2 bed 1 bath basement apartment). Amenities include on-site parking, on-site laundry for extra income, and an upstairs observation deck with 360-degree views of the San Gabriel Mountains, the Downtown skyline, and Palos Verdes Peninsula. All tenants are long-term multiple-year occupants on month-to-month rental contracts. These extremely well-performing units are all month to month with wonderful long-term tenants, a 6.8% Cap rate and tons of growth potential!

Listed by Terry McCarty | BRE #01239625 | Coldwell Banker Realty
Last checked: 1 minute ago | Last updated: April 8th, 2024 | Source CRMLS | DOM: 208
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Home details

Lot Sq. Ft
7,451
HOA Dues
$0/mo
Year built
1915
Garage
--
Property Type:
Fourplex
Status
Active
MLS#
OC23184659
City
Long Beach
County
Los Angeles
Time on Site
214 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 2
  • # of Leased Units: 6
  • # of Electric Meters: 6
  • # of Gas Meters: 6
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,030
  • Total Rent: $3,030
  • Pro Forma/Market Rent: $3,500
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $865
  • Total Rent: $865
  • Pro Forma/Market Rent: $1,500
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,265
  • Total Rent: $1,265
  • Pro Forma/Market Rent: $1,500
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,265
  • Total Rent: $1,265
  • Pro Forma/Market Rent: $1,500
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,210
  • Total Rent: $1,210
  • Pro Forma/Market Rent: $1,300
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,210
  • Total Rent: $1,210
  • Pro Forma/Market Rent: $1,300
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 7%
  • Gross Rent Multiplier: 11.66
  • Gross Scheduled Income: $109,340
  • Net Operating Income: $90,115
  • Gross Operating Income: --
  • Laundry Income: $1,800
  • Laundry Own/Lease: Own
Annual Expense Breakdown
  • Total Operating Expense: $19,225
  • New Taxes: $15,300
  • Trash: $1,100
  • Insurance: $1,725
  • Professional Management: $0
  • Water/Sewer: $1,100

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Property Details for 1044 Cedar Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Laundry Information
  • Has Laundry
  • Common Area, Individual Room
Fireplace Information
  • Has Fireplace
  • Living Room
Interior Features
  • Ceiling Fan(s)
Exterior Features
Exterior Information
  • Roof: Composition
  • Has Fence
  • Wood
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Driveway, Concrete, On Site, Private
Lot Information
  • Lot Features: Back Yard, Front Yard, Lot 6500-9999, Level
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Has View
  • View: City Lights
  • Common Walls: 1 Common Wall
  • Total # of Units: 6
  • Parcel Number: 7272005028
  • Year Built Source: Assessor
  • Architectural Style: Craftsman
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer, Sewer Paid
  • Water Source: Public
  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Location / Neighborhood
Location Information
  • Subdivision Name: Other (OTHR)
  • Other Subdivision Name: Other
  • Directions: North of 10th St/ West of Pacific
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
Neighborhood Information
  • Community Features: Curbs, Gutters, Sidewalks, Storm Drains, Street Lights
View more facts & features

Local Long Beach Agent

Sale History for 1044 Cedar Ave

Last sold on January 11th, 2021

  • October, 2023

  • Oct 3, 2023

    Date

    Active

    CRMLS: OC23184659

    $1,495,000

    Price

  • January, 2021

  • Jan 11, 2021

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • October, 2019

  • Oct 7, 2019

    Date

    Sold

    CRMLS: OC19016610

    $1,175,000

    Price

  • Sep 25, 2019

    Date

    Pending

    CRMLS: OC19016610

    $1,195,000

    Price

  • Sep 13, 2019

    Date

    Active

    CRMLS: OC19016610

    $1,195,000

    Price

  • Aug 28, 2019

    Date

    Pending

    CRMLS: OC19016610

    $1,195,000

    Price

  • Aug 16, 2019

    Date

    Active

    CRMLS: OC19016610

    $1,195,000

    Price

  • Aug 5, 2019

    Date

    Pending

    CRMLS: OC19016610

    $1,195,000

    Price

  • Jun 24, 2019

    Date

    Price Change

    CRMLS: OC19016610

    $1,195,000

    Price

  • Apr 29, 2019

    Date

    Active

    CRMLS: OC19016610

    $1,250,000

    Price

  • Apr 17, 2019

    Date

    Pending

    CRMLS: OC19016610

    $1,250,000

    Price

  • Apr 9, 2019

    Date

    Expired

    CRMLS: OC19016610

    $1,250,000

    Price

  • Feb 25, 2019

    Date

    Price Change

    CRMLS: OC19016610

    $1,250,000

    Price

  • Jan 22, 2019

    Date

    Active

    CRMLS: OC19016610

    $1,275,000

    Price

  • Listing provided courtesy of CRMLS

    The Cedar Avenue Apartments is a six-unit multi-family community located in the City of Long Beach. Located at 1044 Cedar Avenue, this investment presents a stable, low expense, turn-key opportunity with a 6.25% CAP Rate and 11.70% total return on current income. The building is comprised of (1) large, four bedroom/ two bathroom house, (2) two bedroom/ one bathroom units, (2) one bedroom/ one bathroom units, and (1) large, 1,000 square foot two bedroom/ one bathroom non-conforming unit. The property also offers amenities including an on-site laundry facility, gated yard, and ample on-site parking. The plumbing and electrical has also recently been updated. The City of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach Port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The Long Beach market has enjoyed strong rental growth and growing tenant demand over the past few years.

  • October, 2019

  • Oct 7, 2019

    Date

    Sold (Public Records)

    Public Records

    $1,175,000

    Price

  • July, 2018

  • Jul 16, 2018

    Date

    Canceled

    CRMLS: OC18062886

    $1,225,000

    Price

  • Apr 30, 2018

    Date

    Price Change

    CRMLS: OC18062886

    $1,225,000

    Price

  • Mar 19, 2018

    Date

    Active

    CRMLS: OC18062886

    $1,250,000

    Price

  • Listing provided courtesy of CRMLS

    Presented is the Cedar Avenue Apartments, a six-unit multi-family community located in the City of Long Beach. Located at 1044 Cedar Avenue, this investment presents a stable, low expense, turn-key opportunity with a 5.1% CAP Rate and 7.2% total return on current income. The building is comprised of (1) large, four bedroom/ two bathroom house, (4) one bedroom/ one bathroom units, and (1) large, 1,000 square foot one bedroom/ one bathroom non-conforming unit. The property also offers amenities including an on-site laundry facility, gated yard, and ample on-site parking. The plumbing and electrical has also recently been updated. The City of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach Port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The Long Beach market has enjoyed strong rental growth and growing tenant demand over the past few years.

  • October, 2015

  • Oct 2, 2015

    Date

    Price Change

    CRMLS: DW15216736

    $850,000

    Price

  • Listing provided courtesy of CRMLS

    GREAT RENTAL INCOME PROPERTY , 4 UNITS 1 BDR. 1Bath ,Each PLUS 1 HOUSE 3 Brd. 1 bath .. Lots of Parking Space and A BAsement for storage that could be Rented For Additional INCOME. GREAT BUY FOR INVESTORA AS WELL!! House Maybe demolished & More Units may Be Build !! MUST SEE PROPERTY . OR CALL FOR MORE INFO.

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Tax History for 1044 Cedar Ave

Assessed Value (2020): $1,175,600
Year Land Value Improved Value Assessed Value
2020 $760,000 $415,600 $1,175,600

Home Value Compared to the Market

This property vs the competition

1044 Cedar Ave is listed 59.39% higher than the median list price for the city of Long Beach which has a median list price of $799,900. The median price per/sqft for Long Beach is $644 and this home is listed at $267.52 per/sqft which puts the price per square foot 58.46% lower than the median price per square foot for the city of Long Beach.

About 1044 Cedar Ave

Detailed summary of property

1044 Cedar Ave is a fourplex located in Long Beach, CA 90813 and is currently for sale. This fourplex offers 12 bedrooms, 7 bathrooms, roughly 4,766 living square feet, and sits on an approximately 7,451 square foot lot. 1044 Cedar Ave was first listed on ArdentRealEstateGroup.com on October 3, 2023. The homeowner is currently asking $1,275,000 and was originally asking $1,495,000. The median priced home in Long Beach is $799,900 with a median price per square foot of $644. Based on Ardent Real Estate Group's Long Beach Market Data, this home is listed 59.39% higher than the median priced home. Local competing homes currently for sale include 2490 Chestnut Ave, 436 Gaviota Ave and 1408 Rose Ave. While the average home in Long Beach, CA is selling in 54 days, 1044 Cedar Ave has a days on market of 208 days. There are currently 610 homes for sale in the Long Beach real estate market and 349 of them are single family homes while 248 of them are condos and 13 are townhomes. For more information on this home for sale at 1044 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 1044 Cedar Ave

Public county record property details
Beds
6
Baths
7
Year built
1915
Sq. Ft.
3,744
Lot Size
7,451
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
20
APN
7272-005-028

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
$629,000
Median List Price/Sq.Ft.
$546
Median Sold Price
$584,000
Median Sold Price/Sq.Ft.
$592
Total Inventory
30
Median Sale to List Price %
108.35%
Avg Days on Market
23
Loan Type
Conventional (80%), FHA (10%), VA (10%), Cash (0%), Other (0%)

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Recently Sold Homes Near 1044 Cedar Ave

1035 Cedar Ave, Long Beach, CA 90813
$1,100,000 Last Sold Price
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8 Baths
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1035 Cedar Ave
Long Beach, CA 90813
1019-1027 Cedar Ave, Long Beach, CA 90813
$6,680,000 Last Sold Price
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26 Baths
15566 Sq.Ft.
1019-1027 Cedar Ave
Long Beach, CA 90813
1035 Pacific Ave, Long Beach, CA 90813
$1,050,000 Last Sold Price
7 Beds
6 Baths
5252 Sq.Ft.
1035 Pacific Ave
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936 Cedar Ave, Long Beach, CA 90813
$4,040,000 Last Sold Price
9 Beds
14 Baths
8181 Sq.Ft.
936 Cedar Ave
Long Beach, CA 90813

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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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