1605 Cedar Ave, Long Beach, CA 90813

We are excited to present this new four unit apartment building in the City of Long Beach. This huge fourplex consists of over 5,000 square feet and was originally constructed in 1906. There is an unusual unit mix of three 3 bedroom units and a 5 bedroom 2 bath unit. The current income is almost $12,000 per month. The two story 5 bedroom unit has been remodeled and the rent for that unit is projected at $3,850 per month. The other three units are producing $2,650 per month, each. The structures are situated on a large, 7,554 square foot lot that is zoned LBR4N. There are four, one car garages at the rear of the lot with alley access. With a GRM of only 13.4 and a 5.20 CAP rate, this one is priced to sell. Please do not walk on property or disturb tenants. Please make offers subject to inspection and provide proof of funds with your offers.