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702 Cedar Ave, Long Beach, CA 90813
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702 Cedar Ave Long Beach, CA 90813

$929,000
  • 0 Beds
  • 3 Baths
  • 2,557 Sq.Ft.
For Sale
$929,000 Get Pre-Qualified
Map preview of 702 Cedar Ave, Long Beach, CA 90813

Property Overview: 702 Cedar Ave Long Beach, CA has -- bedrooms, 3 bathrooms, 2,557 living square feet and 3,752 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: Great Mixed use building Trophy Building in the Witmer Heights of Long Beach. It has a large patio and parking between the two structures. Both units on the ground level are commercial and the unit upstairs is a residential single. The two units downstairs are occupied by an Herbal Retail Store (not cannabis). The larger unit is retail and the smaller unit is used for demonstrations and classes. The building is fully leased.

Listed by David Rosenfeld | BRE #01109090 | Advantage Real Estate
Last checked: 14 minutes ago | Last updated: May 1st, 2024 | Source CRMLS | DOM: 16
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Home details

Lot Sq. Ft
3,752
HOA Dues
$0/mo
Year built
1920
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24356107
City
Long Beach
County
Los Angeles
Time on Site
15 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 3
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,650
  • Total Rent: $2,650
  • Pro Forma/Market Rent: $3,100
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,133
  • Total Rent: $1,133
  • Pro Forma/Market Rent: $1,600
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,489
  • Total Rent: $1,489
  • Pro Forma/Market Rent: $1,750
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 0
  • Gross Scheduled Income: --
  • Net Operating Income: $0
  • Gross Operating Income: $63,264
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 702 Cedar Ave

No upcoming open houses

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Property Details for 702 Cedar Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: One, Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 2
  • No
  • Parking Features: None
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 3
  • Parcel Number: 7272020011
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: NE Corner of 7th Street & Cedar Avenue.
View more facts & features

Local Long Beach Agent

Sale History for 702 Cedar Ave

Last sold for $650,000 on February 27th, 2018

  • April, 2024

  • Apr 16, 2024

    Date

    Active

    CRMLS: 24356107

    $929,000

    Price

  • August, 2022

  • Aug 17, 2022

    Date

    Expired

    CRMLS: 22128071

    $1,199,000

    Price

  • Feb 17, 2022

    Date

    Active

    CRMLS: 22128071

    $1,199,000

    Price

  • Listing provided courtesy of CRMLS

    Looking for a live/workspace? Once the lease is up this is a great owner user. It is a commercially owned property in a residential neighborhood. Unique corner location! Outstanding potential. Mixed-use building residential/commercial. Commercial unit #1 ( 702 Cedar) is currently in use as a retail store. The second building is 712-714 Cedar, adjacent Duplex, with two units - commercial downstairs and residential upstairs. Commercial unit #2 is vacant. The residential unit is rented. The rented units are always paid on time. Perfect for artists, small business start-ups, neighborhood stores. Possible redevelopment potential. Willmore City Historic District, adjacent to other new development and revitalization projects. Don't miss out on this one. .

  • April, 2018

  • Apr 11, 2018

    Date

    Expired

    CRMLS: DW17233151

    $2,300

    Price

  • Jan 13, 2018

    Date

    Withdrawn

    CRMLS: DW17233151

    $2,300

    Price

  • Nov 24, 2017

    Date

    Price Change

    CRMLS: DW17233151

    $2,300

    Price

  • Oct 30, 2017

    Date

    Price Change

    CRMLS: DW17233151

    $2,500

    Price

  • Oct 18, 2017

    Date

    Price Change

    CRMLS: DW17233151

    $2,600

    Price

  • Oct 11, 2017

    Date

    Price Change

    CRMLS: DW17233151

    $2,800

    Price

  • Oct 11, 2017

    Date

    Price Change

    CRMLS: DW17233151

    $2,500

    Price

  • Oct 11, 2017

    Date

    Price Change

    CRMLS: DW17233151

    $2,700

    Price

  • Oct 11, 2017

    Date

    Price Change

    CRMLS: DW17233151

    $3,000

    Price

  • Oct 10, 2017

    Date

    Active

    CRMLS: DW17233151

    $2,700

    Price

  • Listing provided courtesy of CRMLS

    Location, Location, Location! In the Heart of the Downtown Long Beach, highly desirable Wilmore Historical District. This 1,200 Sq/ft. commercial Unit has been fully remodeled and upgraded throughout. This unit comes with a large open floor plan perfect for Retail, Gym, Office, Art or Fitness Studio. Boast a separate full kitchen, Storage/break-room, air conditioning, new recess lighting, paint and a restroom. Outside you can experience a large private 800 Sq/ft Fenced in Patio with great ambiance. This Lease opportunity will not last long. Act Fast units like this DO NOT come in this area often and won't be available long.

  • February, 2018

  • Feb 27, 2018

    Date

    Sold

    CRMLS: DW17247607

    $610,000

    Price

  • Feb 6, 2018

    Date

    Active Under Contract

    CRMLS: DW17247607

    $649,999

    Price

  • Jan 31, 2018

    Date

    Price Change

    CRMLS: DW17247607

    $649,999

    Price

  • Jan 31, 2018

    Date

    Active

    CRMLS: DW17247607

    $639,900

    Price

  • Dec 4, 2017

    Date

    Active Under Contract

    CRMLS: DW17247607

    $639,900

    Price

  • Nov 10, 2017

    Date

    Price Change

    CRMLS: DW17247607

    $639,900

    Price

  • Nov 10, 2017

    Date

    Active

    CRMLS: DW17247607

    $599,999

    Price

  • Listing provided courtesy of CRMLS

    Investor opportunity: Location, Location, Location! These THREE units are In the Heart of the Downtown Long Beach, in the highly desirable Wilmore Historical District. Don’t miss out on this amazing investment opportunity. (1) Large open spacious commercial Unit offers a large open floor plan perfect for Retail, Gym, Office, Art or Fitness Studio with a private outdoor private patio area. Comes with new recess lighting, paint, tankless water heater, break room, and an upgraded restroom. (1) Studio well maintained with Washer and Dryer hook-ups. (1) Completely remodeled: 1 bed / 1 bath unit includes parking, in-unit washer & dryer hook-up, tankless water heater, granite counter tops, new kitchen with new tile and hard laminate throughout. This is a mix unit will not last long. Potential: CAP RATE 6-7.5%:

  • February, 2018

  • Feb 27, 2018

    Date

    Sold (Public Records)

    Public Records

    $650,000

    Price

  • August, 2017

  • Aug 17, 2017

    Date

    Sold (Public Records)

    Public Records

    $446,000

    Price

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Tax History for 702 Cedar Ave

Assessed Value (2020): $634,644
Year Land Value Improved Value Assessed Value
2020 $426,564 $208,080 $634,644

Home Value Compared to the Market

This property vs the competition

702 Cedar Ave is listed 16.14% 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 $363.32 per/sqft which puts the price per square foot 43.58% lower than the median price per square foot for the city of Long Beach.

About 702 Cedar Ave

Detailed summary of property

702 Cedar Ave is a multi family located in Long Beach, CA 90813 and is currently for sale. This multi family property offers -- bedrooms, 3 bathrooms, roughly 2,557 living square feet, and sits on an approximately 3,752 square foot lot. 702 Cedar Ave was first listed on ArdentRealEstateGroup.com on April 17, 2024. The homeowner is currently asking $929,000. 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 16.14% higher than the median priced home. Local competing homes currently for sale include 2223 Locust Ave, 1861 Orange Ave and 1746 E Florida St. While the average home in Long Beach, CA is selling in 54 days, 702 Cedar Ave has a days on market of 16 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 702 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 702 Cedar Ave

Public county record property details
Beds
1
Baths
1
Year built
1920
Sq. Ft.
2,557
Lot Size
3,751
Stories
1
Type
Commercial/Office/Residential (Mixed Use)
Pool
No
Spa
No
County
Los Angeles
Lot#
17,18
APN
7272-020-011

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
$695,000
Median List Price/Sq.Ft.
$546
Median Sold Price
$584,000
Median Sold Price/Sq.Ft.
$592
Total Inventory
28
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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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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