$4,746,700
Est. payment /mo
14,055 SqFt
Active
330 Cedar Avenue Long Beach, CA 90802
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Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 14,055 sqft
Price per Sqft $337
MLS Listing ID CL25618923
HOA Y/N No
Year Built 1915
Lot Size 7,513 Sqft
Acres 0.1725
Property Sub-Type Other
Property Description
PRICED TO SELL. Under 10 GRM and 6.0% CAP. 25 units in the heart of Downtown Long Beach. Excellent unit mix for the area. Well-maintained and professionaly managed property. Property is subject to AB 1482 Rent Control (5% + CPI increase allowed). The building is blocks from over $8BB in redevelopment including the new Library and many new apartment complexes and restaurants. All unit interiors and common areas heavily updated. The buildings electrical was updated to a 400 AMP main panel and 60 AMPS in each unit and the roof was replaced in 2020. The building was also retrofitted in 1989. New laminate flooring throughout the common areas. Onsite laundry in the basement area. There is a separate house in the rear that has 2 large units - a 3 bed/1 bath and 1 bed/1 bath unit. Loan quote provided by David Guevara. Momenta Capital Group. Qualified Buyers can put as little as 28% down and earn over an 8% cash on cash return against in-place rents. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL.
Location
State CA
County Los Angeles
Zoning LBPD30
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 7280015009
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Listed by Jonathan Swire • The Agency
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Mike & Jules Guzzardo Team With Jenny Biczkow
Realtor | r01066846,01955798,02086289
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