2015 Cedar Ave, Long Beach, California 90806, Long Beach, 90806 - bed, bath
2015 Cedar Ave
Long Beach, California 90806
Property Price
SUMMARY
Analysis of 2015 Cedar Ave, Long Beach, California 90806 is currently available with a list price of $2,000,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Long Beach Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
Built in 1956, this property is a classic mid-century apartment complex that appears to be maintained but is significantly outdated. The exterior shows aging stucco and older window fixtures, while the listing description's emphasis on 'value-add' and 'below market rents' strongly suggests that the kitchens and bathrooms have not undergone recent renovations. While functional and currently generating income, the infrastructure likely requires modernization to meet contemporary quality standards.
PROSSTRENGTHS & OPPORTUNITIES
- Value-Add Opportunity
With current rents trending below market rates, the property offers a clear pathway for investors to increase Net Operating Income through strategic lease adjustments and unit modernizations.
- Ancillary Income Streams
The inclusion of six private garages and an on-site laundry facility provides essential tenant amenities while generating consistent additional revenue beyond base residential rents.
- Strategic Coastal Location
Situated in the Wrigley neighborhood of Long Beach, the asset is positioned within a coastal market undergoing significant redevelopment, promising strong long-term capital appreciation.
CONSRISKS & DEFICIENCIES
- Aging Infrastructure
Constructed in 1956, the property may require significant capital expenditures for deferred maintenance or upgrades to aging mechanical, electrical, and plumbing systems.
- Local School Ratings
The property is zoned for Cabrillo High School, which currently holds a low academic rating of 3/10, potentially impacting its appeal to families with school-aged children.
About 2015 Cedar Ave
Pleased to present the opportunity to acquire the Cedar Ave Apartments located in the Wrigley neighborhood of Long Beach. The property consists of large one bedroom and two bedroom units along with six garages and an on-site laundry room that both appeals to tenants and provides additional income. With rents slightly below market, the asset provides stable cashflow with a clear pathway to increasing income in a coastal market currently going through massive redevelopment.
Property Details
Public Facts
- Property Type
- Mixed Use
- Year Built
- 1956
- Lot Size
- 6,375 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Long Beach Unified Schools
Lafayette Elementary School
Grades K-5 • 0.5 mi
Burnett Elementary School
Grades K-5 • 0.6 mi
Birney Elementary School
Grades K-5 • 1.3 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 50% |
| Baths | - | - | 50% |
| Square foot | 7,226 | 4,330 | 67% |
| Lot Size | 6,375 | 6,263 | 67% |
| Price | $2.00M | $1.14M | 67% |
| Price per sq ft | $277 | $277 | 50% |
| Built year | 1956 | 1936 | 67% |
| HOA | $0 | $0 | 50% |
| Days on market | 39 | 206 | 33% |
Pricing History
Listed for Sale
Jan 26, 2026
$2,000,000
Initial Listing
Sold
Aug 21, 1998
$245,000
Public Record