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2425 Cedar Ave, Long Beach, CA 90806
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2425 Cedar Ave Long Beach, CA 90806

$1,565,000 Sold Price as of 06/26/2023
  • 7 Beds
  • 5 Baths
  • 4,230 Sq.Ft.
Sold
$1,565,000 Sold Price as of 06/26/2023 Refinance Your Mortgage
Map preview of 2425 Cedar Ave, Long Beach, CA 90806

Property Overview: 2425 Cedar Ave Long Beach, CA has 7 bedrooms, 5 bathrooms, 4,230 living square feet and 6,582 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present 2425 Cedar Avenue, a 5-unit investment property in Long Beach, California. The property is located between Willow and Burnett Streets just off Pacific Avenue. This area is a solid majority-renter market with low vacancy rates. 2425 Cedar Avenue consists of two 2 bedroom 1 bathroom units and three 1 bedroom 1 bathroom units. All of the units are separately metered for gas and electricity. The property also offers four single car garages plus surface parking. This offering presents a great opportunity for an investor to acquire an asset with steady cash flow in a strong rental market and capture potential upside in rents.

Listed by Jonathan Weir | BRE #02038545 | Marcus & Millichap
Last checked: 2 minutes ago | Last updated: June 26th, 2023 | Source CRMLS | DOM: 111

Home details

Lot Sq. Ft
6,582
HOA Dues
$0/mo
Year built
1956
Garage
4 Car
Property Type:
Multi Family
Status
Sold
MLS#
23234221
City
Long Beach
County
Los Angeles
Time on Site
484 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,725
  • Total Rent: $1,725
  • Pro Forma/Market Rent: $1,900
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,650
  • Total Rent: $1,650
  • Pro Forma/Market Rent: $1,900
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,295
  • Total Rent: $2,295
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,250
  • Total Rent: $2,250
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,675
  • Total Rent: $1,675
  • Pro Forma/Market Rent: $1,900
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.61%
  • Gross Rent Multiplier: 13.9
  • Gross Scheduled Income: --
  • Net Operating Income: $73,826
  • Gross Operating Income: $111,686
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 2425 Cedar Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
  • Dishwasher, Refrigerator
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 4
  • # of Parking Spaces: 6
  • Has Parking
  • Parking Features: Garage - Single Door, Uncovered
Property Information
  • Total # of Units: 5
  • Parcel Number: 7205010019
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: Cedar Ave & W Burnett St
View more facts & features

Local Long Beach Agent

Sale History for 2425 Cedar Ave

Last sold for $1,565,000 on June 26th, 2023

  • June, 2023

  • Jun 26, 2023

    Date

    Sold

    CRMLS: 23234221

    $1,565,000

    Price

  • Jan 19, 2023

    Date

    Active

    CRMLS: 23234221

    $1,600,000

    Price

  • March, 2017

  • Mar 15, 2017

    Date

    Sold (Public Records)

    Public Records

    $1,015,000

    Price

  • May, 2014

  • May 23, 2014

    Date

    Sold (Public Records)

    Public Records

    $675,000

    Price

Show More

Tax History for 2425 Cedar Ave

Assessed Value (2020): $1,460,201
Year Land Value Improved Value Assessed Value
2020 $520,200 $940,001 $1,460,201

Home Value Compared to the Market

This property vs the competition

2425 Cedar Ave sold on June 26, 2023 for 100% 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 $378.25 per/sqft which puts the price per square foot 40.15% lower than the current median sale per square foot for the city of Long Beach.

About 2425 Cedar Ave

Detailed summary of property

2425 Cedar Ave is a multi family that recently sold in Long Beach, CA 90806. This multi family property offered 7 bedrooms, 5 bathrooms, roughly 4,230 living square feet, and sits on an approximately 6,582 square foot lot. 2425 Cedar Ave was first listed on ArdentRealEstateGroup.com on January 20, 2023. The homeowner sold the property for $1,565,000. 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 100% higher than the current median priced home. Local homes that are currently for sale include 1000 E 10th St, 2123 W Columbia St and 1825 Cherry Ave. While the average home in Long Beach, CA is selling in 51 days, 2425 Cedar Ave has a days on market of 111 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 2425 Cedar Ave Long Beach, CA 90806 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 2425 Cedar Ave

Public county record property details
Beds
7
Baths
5
Year built
1956
Sq. Ft.
4,230
Lot Size
6,582
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
17
APN
7205-010-019

The source for these homes facts are from public records.

90806 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$795,000
Median List Price/Sq.Ft.
$614
Median Sold Price
$600,000
Median Sold Price/Sq.Ft.
$641
Total Inventory
13
Median Sale to List Price %
101.69%
Avg Days on Market
16
Loan Type
Conventional (55.56%), FHA (11.11%), VA (0%), Cash (0%), Other (33.33%)

Thinking of Selling?

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Thinking of Selling?
Call, Text or Message
(714) 706-1823

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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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