1911 Cedar Av Long Beach, CA 90806

$629,900
Long Beach, CA   90806
0 Beds, 0.0 Baths, 0 sq ft, 8,150 sq ft lot, Built in 1926
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1911 Cedar Av, Long Beach, CA 90806 Photo 19
0 Beds,
0.0 Baths,
0 sq ft,
8,150 sq ft lot
Built in 1926

Description

MLS# PW17236069

****MAJOR PRICE REDUCTION: HURRY AT THIS PRICE IT WILL NOT LAST LONG**** Investors are you looking for positive cash flow? This property will generate POSITIVE cash flow of OVER 7.5% (30% down) based upon realistic pro-forma rents ($2,600 for front house and $1,750 for back apt). This 2 on a lot has TWO separate garages on a huge 8,150 s.f lot. The lot is zoned R-2. The front house was built in 1926 and contains three bedrooms, a small den off the living room, one full bath and a powder room (both with a large skylight). There is a detached garage that can park two cars tandem (front to back) with washer and dryer hook ups. The front house has been significantly upgraded: new kitchen, new full bath, new powder room, new roof and skylights, new forced heat and air conditioning, new electrical service, drought tolerant landscaping in front with low flow irrigation, and new paint (interior and exterior). The non-conforming back house (originally a laundry room and workshop, built in the 1940s, that was converted into a 650 s.f 2/1 apartment by previous owners) is rent ready and comes with its own detached two car garage with alley access (huge selling feature for renters is this area). Another option is to live in one and rent the other out to significantly lower your monthly mortgage payment. Compare to recent sales comp at 1935 Cedar - sold for $615K - smaller property with 25% less rent potential! Listed by William Smith, Bryant Drive Properties, Inc..

Description

MLS# PW17236069

****MAJOR PRICE REDUCTION: HURRY AT THIS PRICE IT WILL NOT LAST LONG**** Investors are you looking for positive cash flow? This property will generate POSITIVE cash flow of OVER 7.5% (30% down) based upon realistic pro-forma rents ($2,600 for front house and $1,750 for back apt). This 2 on a lot has TWO separate garages on a huge 8,150 s.f lot. The lot is zoned R-2. The front house was built in 1926 and contains three bedrooms, a small den off the living room, one full bath and a powder room (both with a large skylight). There is a detached garage that can park two cars tandem (front to back) with washer and dryer hook ups. The front house has been significantly upgraded: new kitchen, new full bath, new powder room, new roof and skylights, new forced heat and air conditioning, new electrical service, drought tolerant landscaping in front with low flow irrigation, and new paint (interior and exterior). The non-conforming back house (originally a laundry room and workshop, built in the 1940s, that was converted into a 650 s.f 2/1 apartment by previous owners) is rent ready and comes with its own detached two car garage with alley access (huge selling feature for renters is this area). Another option is to live in one and rent the other out to significantly lower your monthly mortgage payment. Compare to recent sales comp at 1935 Cedar - sold for $615K - smaller property with 25% less rent potential! Listed by William Smith, Bryant Drive Properties, Inc..

Area
AREA: 5 - Wrigley Area
B TRACT: Wrigley Area (WR)
COUNTY: LA
Building Info
STORIES: 1
COMMON WALLS: No Common Walls
PARKING: Driveway, Garage - Single Door, Garage - Two Door, Garage Door Opener
COOLING: Central
HEATING: Central Furnace
POOL: None
LAUNDRY: In Garage
Interior Features
INTERIOR: Coffered Ceiling(s), Granite Counters
APPLIANCES: Dishwasher, Gas Stove, Microwave
FLOOR: Laminate, Tile, Vinyl, Wood
FIREPLACE: Living Room
Exterior Features
FENCING: Average Condition, Wood
LOT: Lot 6500-9999
ROOFING: Bitumen
STYLE: SPN
Garage & Parking
PARKING SPACES: 4.00
GARAGE SPACES: 4.00
Community
COMMUNITY: Urban
UNITS TOTAL: 2
STORIES TOTAL: 1
Land
WATER: Public
LOT DIMENSIONS: 50x163
LOT NUMBER: 26
TRACT NUMBER: 26
ZONE: LBR2N
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