We are pleased to present a 10-unit apartment building located at 1415 Cedar Avenue in The Wrigley are of Long Beach, California. It consists of 6,922 rentable square feet and a lot size of 6,600 square feet. The subject property has a great unit mix of (2) studio/1- bathroom units, (3) 1 bedroom / 1-bathroom units and (5) 2-bedroom / 1- bathroom units. The property is separately metered for gas and electricity. There is an on-site laundry room for tenant convenience and six enclosed garages for extra income. Owners enjoy the high demand for rentals in the city of Long Beach. Tenants enjoy living just blocks from the ocean and walking distance to Downtown Long Beach where there are shops, restaurants, cafes, entertainment centers and grocery stores.
The city of Long Beach continues to progress forward and is currently experiencing major redevelopment of $2.2 billion. An example of this large-scale redevelopment is the Long Beach Civic Center, which is estimated to be completed early 2019. The Civic Center will include a new city hall and the Port of Long Beach headquarters, as well as multifamily residential unit. Long Beach sustains its ability to attract renters due to its strong economy and high quality of life. Listed by Kevin King, Marcus & Millichap.