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Listed by Steve Gamez, DRE #00586247 • P.R.S. Properties
$ 1,595,000
Est. payment /mo
Active
419 Cedar Long Beach, CA 90802
5,364 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26195086
Year Built 1910
Lot Size 5,364 Sqft
Source California Regional MLS
Property Description
Great Downtown location blocks away from shopping, restaurants and so much more. Lower level contains a " MEETING ROOM"with its own bath. By adding a shower a stove and a front door- could potentially be a LOW COST ADU adding at least 1500.00 per month to income. (2) 1 bedroom tenants have given notice so there is potential for market rents. Classic building with great unit mix (1) 2 bedroom unit (4) 1 bedroom units and (1) studio unit along with (2) garages which potentially be a 2nd ADU. Laundry room leased for additional income. Nice backyard. Substantial upside in rents. Security cameras. Current Cap rate of 6 With 30% down, a new borrower could get a new loan of 70% LTV
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Laundry In Laundry Room, Laundry Area, Washer/Dryer - Leased, Community Facility
Exterior
Garage Spaces 2.0
Pool None
Building
Water District - Public
Others
Tax ID 7280011019
Special Listing Condition Not Applicable
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