Courtesy of: Anthony Walker, Buckingham Investments, Inc, Anthony.walker@buckinghaminvestments.com
Courtesy of: Anthony Walker, Buckingham Investments, Inc, Anthony.walker@buckinghaminvestments.com
$1,995,000
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12 bed
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10.00 Bath (10 Full)
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Lot: 0.15 Acres
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Apartment
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$1,995,000
1425 Cedar Amazing 7.4% in-place yield plus a 10% upside to an 8.4% cap rate at market! 1953-built, 10-unit property in a dense, high-demand rental area of Long Beach. 8.9X GRM on current rents and 8.1X GRM at market for postwar units under $200K/door. Strong unit mix: (8) 1 bed / 1 bath and (2) 2 bed / 1 bath units. 4 of 10 units just remodeled with new flooring, lighting, kitchens and bathrooms. Community laundry room plus 4 garages for added income or ADU conversion potential. All units separately metered for gas and electricity. Directly across from Washington Middle School, currently undergoing a $176 million reconstruction. Just a few blocks to the Metro Blue Line rail station, PCH and the 710 Freeway. Over 60% of households within 5 miles are renters with an average household income of over $94, 000 (Costar).
Courtesy of: Anthony Walker, Buckingham Investments, Inc, Anthony.walker@buckinghaminvestments.com
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