2059 Cedar Ave — Sale in Long Beach, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Long Beach, CA 90806

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Investment Figures

Cap rate
5.83%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap, as the exclusive listing agent, is pleased to present 2059 Cedar Avenue, a 14-unit multifamily property located in Long Beach, California. Built in 1931, 2059 Cedar Avenue features distinctive Spanish Revival-style architecture characterized by its stucco exterior, clay tile roof, arched openings and period architectural detailing. The 2-story property features a unit mix of 6 studios and 8 1-bed/1-bath units totaling approximately 9,399 rentable square feet. Residents enter through a controlled-access main entrance that opens to an interior hallway system serving the individual residences, a layout characteristic of apartment buildings from this era. The property offers several amenities that provide value to both residents and ownership. An on-site laundry facility gives residents the convenience of laundry within the building while generating additional property income. The 4 garage parking spaces are particularly valuable in Long Beach’s dense residential environment, providing residents with dedicated off-street parking while also enhancing the property’s rental income. Current ownership reports copper plumbing and electrical improvements, along with updates to kitchens and bathrooms throughout the property. Units have also received various improvements as they have turned over through the years, with stainless-steel appliances among the upgrades found in select residences. Combining classic 1930s architecture with updated interiors, building-system improvements and incomeproducing resident amenities, 2059 Cedar Avenue offers investors the opportunity to acquire a distinctive Long Beach multifamily asset with numerous capital improvements already completed under current ownership. Investment Highlights: • Property Overview: 14-unit multifamily asset in Long Beach, CA (9,399 rentable square feet). • Unit Mix: 6 studios and 8 one-bedroom/one-bathroom units. • Architecture: 1931 Spanish Revival-style with classic stucco exterior, clay tile roo

Market Context

This multifamily in Long Beach, CA is listed for sale. It is offered at an approximate 5.8% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Long Beach, CA — view the full market.

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