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1497 Cedar Ave, Long Beach, CA 90813
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1497 Cedar Ave Long Beach, CA 90813

$1,407,000 Sold Price as of 10/25/2021
  • 7 Beds
  • 6 Baths
  • 3,520 Sq.Ft.
Sold
$1,407,000 Sold Price as of 10/25/2021 Refinance Your Mortgage
Map preview of 1497 Cedar Ave, Long Beach, CA 90813

Property Overview: 1497 Cedar Ave Long Beach, CA has 7 bedrooms, 6 bathrooms, 3,520 living square feet and 7,553 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Excellent Upside Potential!! Clean 6-Unit Building Across the Street From Washington Middle School. Five 1-Bedroom and One 2-Bedroom Units in 2 buildings.. Five Garages in Back of Property. Excellent Rental Area With 20% Upside in Most Rents. Laundry Room Area In Back of Front Building--Set Up Your Own Laundry For Additional Income! Only 14.77 X Actual Income and 13 X Pro Forma.

Listed by Cris Molles | BRE #01345419 | The Realestate Group
Last checked: 7 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 27

Home details

Lot Sq. Ft
7,553
HOA Dues
$0/mo
Year built
1941
Garage
5 Car
Property Type:
Multi Family
Status
Sold
MLS#
SB21165750
City
Long Beach
County
Los Angeles
Time on Site
984 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: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,465
  • Total Rent: $1,465
  • Pro Forma/Market Rent: $1,695
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,550
  • Total Rent: $3,100
  • Pro Forma/Market Rent: $3,100
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,255
  • Total Rent: $1,255
  • Pro Forma/Market Rent: $1,500
Unit Breakdown 4
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,180
  • Total Rent: $2,360
  • Pro Forma/Market Rent: $3,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $98,160
  • Net Operating Income: $64,578
  • Gross Operating Income: --
  • # of Rented Garages: 0
  • Garage Rental Income: $0
  • Laundry Income: $0
Annual Expense Breakdown
  • Total Operating Expense: $33,582
  • Electric: $1,945
  • Gas/Fuel: $0
  • Licenses: $574
  • New Taxes: $18,125
  • Trash: $0
  • Gardener: $720
  • Insurance: $2,449
  • Maintenance: $1,963
  • Professional Management: $4,740
  • Water/Sewer: $2,454
  • Other Expenses: $0

Property Details for 1497 Cedar Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Laundry Information
  • Has Laundry
  • Community, Gas & Electric Dryer Hookup, Individual Room
Kitchen Information
  • Has Appliances
  • Gas Oven
Interior Features
  • Levels: Multi/Split
Exterior Features
Exterior Information
  • Has Fence
  • Security, Wrought Iron
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 5
  • # of Parking Spaces: 5
  • Has Parking
  • Parking Features: Direct Garage Access, Garage Faces Rear
Lot Information
  • Lot Features: Front Yard, Landscaped, Lawn, Level with Street, Near Public Transit
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • No View
  • View: None
  • Common Walls: 2+ Common Walls
  • Total # of Units: 6
  • Parcel Number: 7269041006
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Westside/South of Willow (WSW)
  • Directions: Just South of Pacific Coast Hwy. and Four Blocks West of Long Beach Blvd.
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Storm Drains
View more facts & features

Local Long Beach Agent

Sale History for 1497 Cedar Ave

Last sold for $1,407,000 on October 25th, 2021

  • October, 2021

  • Oct 8, 2021

    Date

    Active Under Contract

    CRMLS: SB21165750

    $1,450,000

    Price

  • Sep 8, 2021

    Date

    Active

    CRMLS: SB21165750

    $1,450,000

    Price

  • August, 2015

  • Aug 14, 2015

    Date

    Sold (Public Records)

    Public Records

    $720,000

    Price

  • March, 2002

  • Mar 15, 2002

    Date

    Sold (Public Records)

    Public Records

    $220,000

    Price

Show More

Tax History for 1497 Cedar Ave

Assessed Value (2020): $779,350
Year Land Value Improved Value Assessed Value
2020 $324,729 $454,621 $779,350

Home Value Compared to the Market

This property vs the competition

1497 Cedar Ave sold on October 25, 2021 for 81.25% 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 $411.93 per/sqft which puts the price per square foot 34.82% lower than the current median sale per square foot for the city of Long Beach.

About 1497 Cedar Ave

Detailed summary of property

1497 Cedar Ave is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 7 bedrooms, 6 bathrooms, roughly 3,520 living square feet, and sits on an approximately 7,553 square foot lot. 1497 Cedar Ave was first listed on ArdentRealEstateGroup.com on September 8, 2021. The homeowner sold the property for $1,407,000. 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 81.25% higher than the current median priced home. Local homes that are currently for sale include 1120 Stanley Ave, 1562 W 31st St and 1562 W 31st St. While the average home in Long Beach, CA is selling in 51 days, 1497 Cedar Ave has a days on market of 27 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 1497 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 1497 Cedar Ave

Public county record property details
Beds
7
Baths
6
Year built
1941
Sq. Ft.
3,520
Lot Size
7,552
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
4
APN
7269-041-006

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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(714) 706-1823

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Recently Sold Homes Near 1497 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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