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936 Cedar Ave Long Beach, CA 90813

$4,040,000 Sold Price as of 09/16/2022

9 Beds
14 Baths
8,181 Sq.Ft.

Sold

$4,040,000 Sold Price as of 09/16/2022 Refinance Your Mortgage

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Map preview of 936 Cedar Ave, Long Beach, CA 90813

Property Overview: 936 Cedar Ave Long Beach, CA has 9 bedrooms, 14 bathrooms, 8,181 living square feet and 7,501 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 14 units in Long Beach blocks from Down town and all the redevelopment. Excellent unit for the location with onsite parking (currently all rented). All units have been heavily updated including new kitchens, bath, fixtures, flooring and all exterior areas. No work to be done. Property is professionally managed and well maintained. All units are rented and there is some rental upside for the Buyer to obtain as rent increases are issued. The property is subject to AB1482 Rent Control allowing for 10% increases in 2022. EMAIL LISTING AGENT FOR MORE INFO AND RENT ROLL.

Listed by Jonathan Swire | BRE #01336277 | The Agency

Last checked: 16 minutes ago | Last updated: September 21st, 2022 | Source CRMLS | DOM: 60

Home details

Lot Sq. Ft: 7,501
HOA Dues: $0/mo
Year built: 1957
Garage: 7 Car
Property Type:: Multi Family

Status: Sold
MLS#: 22157851
City: Long Beach
County: Los Angeles
Time on Site: 731 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 14
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 6
# of Beds: 0
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,595
Total Rent: $1,595
Pro Forma/Market Rent: $1,595

Unit Breakdown 2

# of Units: 7
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,825
Total Rent: $1,825
Pro Forma/Market Rent: $1,825

Unit Breakdown 3

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $2,195
Total Rent: $2,195
Pro Forma/Market Rent: $2,195

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 4.3%
Gross Rent Multiplier: 15
Gross Scheduled Income: --
Net Operating Income: $180,000
Gross Operating Income: $283,000

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 936 Cedar Ave

Interior Features

Cooling Information

No Cooling
None

Heating Information

Has Heating
Wall Furnace

Lot Details / Garage and Parking

Parking/Garage Information

# of Garage Spaces: 7
# of Parking Spaces: 7
No
Parking Features: None

Property Information

Total # of Units: 14
Parcel Number: 7272012005

Homeowners Association, Utilities, Taxes / Assessments

Homeowners Association

Is Not Part of Association

Location / Neighborhood

Location Information

Directions: 14 Units in Prime Down Town Long Beach location.

View more facts & features

Local Long Beach Agent

Sale History for 936 Cedar Ave

Last sold for $4,040,000 on September 16th, 2022

September, 2022
Sep 16, 2022

Date

Sold

CRMLS: 22157851

$4,040,000

Price
May 17, 2022

Date

Active

CRMLS: 22157851

$4,250,000

Price
September, 2019
Sep 12, 2019

Date

Sold (Public Records)

Public Records

$2,400,000

Price

Tax History for 936 Cedar Ave

Assessed Value (2020): $2,403,230

Year	Land Value	Improved Value	Assessed Value
2020	$1,500,000	$903,230	$2,403,230

Home Value Compared to the Market

This property vs the competition

936 Cedar Ave sold on September 16, 2022 for 431.25% 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 $519.5 per/sqft which puts the price per square foot 17.8% lower than the current median sale per square foot for the city of Long Beach.

About 936 Cedar Ave

Detailed summary of property

936 Cedar Ave is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 9 bedrooms, 14 bathrooms, roughly 8,181 living square feet, and sits on an approximately 7,501 square foot lot. 936 Cedar Ave was first listed on ArdentRealEstateGroup.com on May 17, 2022. The homeowner sold the property for $4,040,000. 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 431.25% higher than the current median priced home. Local homes that are currently for sale include 825 E 108th St, 1515 W 103rd St and 7851 Glencoe Dr. While the average home in Long Beach, CA is selling in 51 days, 936 Cedar Ave has a days on market of 60 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 936 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 936 Cedar Ave

Public county record property details

Beds: 9
Baths: 14
Year built: 1957
Sq. Ft.: 8,181
Lot Size: 7,500
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 1
APN: 7272-012-005

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

Median Sale to List Price %

108.35%

Avg Days on Market

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.