338 Cedar Avenue Long Beach, CA ^$ 4,500,000

338 Cedar Avenue

^$ 4,500,000

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338 Cedar Avenue

Long Beach, CA, 90802

^$ 4,500,000

Bedrooms26 Baths7.2 Sq 10,150

Monthly Estimate*

^$ 31,434

Listed by Keller Williams - Santa Monica

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Multi-Family Home for sale in Long Beach, CA

for $4,500,000 with 26 bedrooms and 7 full baths, 2 half baths. This 10,150 square foot home was built in 1918 on a lot size of 0.1722.

338 Cedar Avenue is a 17-unit apartment asset in Downtown Long Beach. The property is offered at 11.42 GRM on current rents. The property is comprised of (2) three- bedroom units, (5) two-bedroom units, and (10) one-bedroom units. All of the units have been fully remodeled with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathroom vanities, tiling, and modern fixtures and features throughout. All renovated units offer in-unit washers and dryers. The property is located in prime Downtown Long Beach, steps from a plethora of retail and dining amenities as well as the $520M, 22-acre Civic Center redevelopment, and a two-minute walk to the Metro A Blue Line Pacific Station stop.

Multi-Family Active

Price

^$ 4,500,000

Bedrooms

Full Bath

Half Bath

Property Type

Multi-Family

Taxes

^$ 0

Style

MixedUse

Lot Size

0.1722

Year Built

1918

Town/City

Long Beach

County/Region

Los Angeles

MLS | Web ID

PW23183991

Days on Market

228

Features

General

Sewer PublicSewer

Zoning LBPD30

Garage Spaces 0.0

Pool Features None

Year Built 1918

Stories 2

Levels Two

Property SubType MixedUse

Gross Income 382102.0

Community Features Sidewalks

County Los Angeles

Net Operating Income 252823.0

Operating Expense 129279.0

Insurance Expense 10200.0

New Construction N

Property Type ResidentialIncome

HOA / Comm Assn N

Attached Garage N

Subdivision Name Downtown (DT)

Garage Y/N N

Special Listing Conditions Standard

Status Active

Directions Pacific Ave & Cedar Ave

City Long Beach

Entry Location 1

View Y/N N

Senior Community Y/N N

Total Units 17

MLS Area 4 - Downtown Area Alamitos Beach

Lot Size Square Feet 7503.0

Private Pool N

Waterfront Y/N N

Carport Y/N N

Street Name Cedar

Listing Terms Cash CashtoNewLoan Item1031Exchange

Property Attached Y/N Y

Land Lease Y/N N

Electric Expense 2510.0

Home Warranty Y/N N

Fuel Expense 4627.0

Trash Expense 424.0

Water Sewer Expense 10328.0

Lease Renewal Y/N N

Additional Parcels Y/N N

Lease Considered Y/N N

Rent Control Y/N Y

Days on Market 177

Building Area Units SquareFeet

Standard Status Active

Year Built Source Assessor

Tax Lot 12

Property Sub Type Additional MixedUse

Taxes 55885.0

Cap Rate 5.62

Exterior

Lot Features Item1620UnitsAcre

Water Source Public

Total Parking 0.0

Lot Size Area 7503.0

Number of Buildings 2

Spa N

Building Area Total 10150.0

Lot Size Acres 0.1722

Lot Size Units SquareFeet

Lot Size Source Assessor

Number of Separate Water Meters 1

Number of Separate Gas Meters 0

Number of Separate Electric Meters 17

Crops Included Y/N N

Open Parking Y/N N

Horse Y/N N

Irrigation Water Rights Y/N N

Interior

Total Stories 2

Common Walls Item2CommonWalls

Basement (Y/N) N

Air Conditioning Y/N N

Heating Y/N N

Fireplace Y/N N

Street Suffix Avenue

Laundry Features Inside

Entry Level 1

Electric On Property Y/N N

Internal Only

Street Number 1 338

* Excluded Features

List By

Keller Williams - Santa Monica

Broker

(310) 774-3740

Phone

Affordability Calculator

$31,434

Per Month

Monthly Principal & Interest: $31,434
Monthly Property Taxes: --
Monthly Home Insurance: --

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Down Payment

Loan Term

Interest Rate

Yearly Property Taxes

Yearly Home Insurance

Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Long Beach, CA

Average List Price ^$2,100,298

Percent of Sale Price 53%

About Long Beach, CA

470,090 Population

2% Since 2002

^$57,916 Median Income

35.78 Median Age

30% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

273443 Elementary School

272636 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
11/7/2023	$4,500,000	-5.26%	Price Down
10/3/2023	$4,750,000		Listed Price

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338 Cedar Avenue, Long Beach, CA, 90802 is a Multi-Family Home for sale at $4,500,000 with 10,150 sqft and a lot size of 0.1722. 338 Cedar Avenue has 26 bedrooms, 7.2 baths, and was built in 1918. The property's zip code is 90802 which is in Long Beach, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the California Regional Multiple Listing Service, Inc..

Based on information from California Regional Multiple Listing Service, Inc. as of 5/18/2024. 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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338 Cedar Avenue

Multi-Family Home for sale in Long Beach, CA

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