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330 Cedar Ave
For Sale $4,750,000 ($337.96 per Sq Ft)
$4,750,000 ($337.96 per Sq Ft)
- 25 Units
- 14,055 Sq Ft
- 7,513 Sq Ft
- Unknown Cap Rate
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. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL.
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $4,750,000 |
| Property Type | Multi-Family |
| Usable Sqft | 14,055 |
| Number of Stories | 0 stories |
| Parking Spots | 0 spots |
| Year Built | 1915 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 7280015009 |
| MLS # | 25618923 |
| Property ID | 291983014 |
| Lot Sqft | 7,513 |
| Zoning | LBPD30 |
| Total Units | 25 |
| Days on Market | 68 |
| Original List Price | $4,750,000 |
| Date Updated | November 21, 2025 |
| Date Created | November 13, 2025 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 3 | 1.00 | $2,670 | $2,670 |
| Unit #2 | 0 | 1.00 | $1,495 | $1,495 |
| Unit #3 | 1 | 1.00 | $1,595 | $1,595 |
| Gross Income (Yr) | $ 462,000 |
| Operating Expenses | $ 180,000 |
| Net Income (Yr) | $ 283,000 |
| Cap Rate | 6.00% |
Listing Provided By
Jonathan Swire an agent of . Lic #01336277
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Robert Crawford
REAL ESTATE AGENT