338 Cedar Avenue Long Beach, CA 90802
Property profile & analytics
338 Cedar Avenue Long Beach, CA 90802
- Apartment buildings
- 10,164 SF
- 0.17 lot acres
Property ID
US09-8241510
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Doughnut Plant / Bakery / Discount Store
- Diamand Auto Transport / Car Dealership / Shipping Company
- Liam's Sliding Doors / General Contractor / Renovation Specialist
- Long Beach Emergency Plumbing / Plumbing Service / General Contractor
Property Details for 338 Cedar Avenue
- Year built
- 1918
- Construction
- WOOD
- Lot size
- 0.17 lot acres
- Property size
- 10,164 SF
- Zone code
- LBPD30
- Property type
- Apartment buildings
- APN
- 7280-015-006
- APU
- 7280015006
Description
This exceptional 17-unit apartment building, located at 338 Cedar Avenue in the heart of Downtown Long Beach, California, presents a compelling investment opportunity. The property boasts 10,150 square feet on a 7,503 square foot lot and features a mix of unit sizes: two three-bedroom units, five two-bedroom units, and ten one-bedroom units. All 17 units have undergone a complete renovation, including new flooring, modern kitchens with stainless steel appliances and updated cabinetry, updated bathrooms with new vanities and fixtures, and in-unit washers and dryers. The building, constructed in 1918 and spanning two stories, offers secured access for residents. Its prime location places it within walking distance of numerous retail and dining establishments, the expansive $520 million Civic Center redevelopment project, and the Metro A Blue Line Pacific Station. The property's strong financial performance is highlighted by a current NOI of $252,704 and a pro-forma NOI of $282,173, translating to a current cap rate of 5.84% and a pro-forma cap rate of 6.52%. The asking price is $4,325,000, representing a price per unit of $254,411.76 and a current GRM of 10.98. The property's APN is 7280-015-006. This is a rare opportunity to acquire a fully renovated, well-located multifamily asset in a thriving downtown area.
Value Estimations
based on Realmo’s proprietary methodology
-
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $2,970,000 Current use
- AUTO REPAIR, GARAGE
- $3,215,000 Change: +8% Conversion: Difficult
- RETAIL STORES
- $2,855,000 Change: -4% Conversion: Difficult
- WAREHOUSE, STORAGE
- $2,825,000 Change: -5% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Long Beach
- County
- Los Angeles
- State
- California
- Longitude
- -118.195
- Latitude
- 33.7713
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$52,244
$2,799,952
$1,208,858
$4,008,810
-
$0.00
$0.00
$0.00
