Description

Ten apartments, six garages and resident laundry anchor the offering at Cedar Ave Apartments, a two-story property at 2015 Cedar Ave in Long Beach’s South Wrigley neighborhood. Nine one-bedroom apartments and one two-bedroom apartment form the residential mix. Exterior corridors connect the units around a planted outdoor circulation area, and the garage and laundry components are identified separately in the broker’s income assumptions.

The 1956 building contains 7,226 square feet on approximately 0.15 acre. Los Angeles County records confirm the construction year, building area and 10-unit count for APN 7209-025-023. The assessor reports an average of 722 square feet per unit; this is a building-area-based assessment figure, not a measurement of each apartment’s usable interior. The City of Long Beach’s zoning map identifies the site as R-2-N. That designation does not establish expansion rights or confirm that every existing improvement is legally conforming.

The broker reports updates to the roof and electrical system, together with interior renovations. Buyers can assess those improvements alongside the property’s exterior-access layout and on-site services when planning inspections, maintenance and future operations. Improvement dates, permits and warranties should be checked against supporting records.

Offered at $2,045,000, the property is priced at $204,500 per apartment and approximately $283.01 per building square foot. The advertised 6.61% cap rate and approximately $135,088 NOI are broker-underwritten figures, not verified trailing-12-month results. Current occupancy, collections, expenses and lease terms remain subject to confirmation through an updated rent roll and operating statements.

Occupancy notice: the summary’s displayed 0% is a blank-field display defect, not verified occupancy. No current occupancy percentage has been established.