419 Cedar, Long Beach, CA 90802

Property Description

Great Downtown location blocks away from shopping, restaurants and so much more. Lower level contains a " MEETING ROOM"with its own bath. By adding a shower a stove and a front door- could potentially be a LOW COST ADU adding at least 1500.00 per month to income. (2) 1 bedroom tenants have given notice so there is potential for market rents. Classic building with great unit mix (1) 2 bedroom unit (4) 1 bedroom units and (1) studio unit along with (2) garages which potentially be a 2nd ADU. Laundry room leased for additional income. Nice backyard. Substantial upside in rents. Security cameras. Current Cap rate of 6 With 30% down, a new borrower could get a new loan of 70% LTV Great Downtown location blocks away from shopping, restaurants and so much more. Lower level contains a " MEETING ROOM"with its own bath. By adding a shower a stove and a front door- could potentially be a LOW COST ADU adding at least 1500.00 per month to income. (2) 1 bedroom tenants have given notice so there is potential for market rents. Classic building with great unit mix (1) 2 bedroom unit (4) 1 bedroom units and (1) studio unit along with (2) garages which potentially be a 2nd ADU. Laundry room leased for additional income. Nice backyard. Substantial upside in rents. Security cameras. Current Cap rate of 6 With 30% down, a new borrower could get a new loan of 70% LTV