Downtown Long Beach Cedar Ave Apartments. 6 Units consisting of a 1915 Craftsman single family home in front and a 4 unit, 2 story building in back with an approximate 1000 sqft basement (3 rooms plus kitchen, bathroom, laundry) that is currently rented, but not permitted as living space. ***Cap rate sits at 7.6%*** and the property brings in approximately $109,000 per year and the rents are still fairly low! All units except one (tenant moved out last month and seller has chosen to keep it vacant for ease of sale) are currently occupied by long term month to month tenants. This is a fantastic opportunity for any investor to own bread and butter units in a high rental demand area. You will never have a problem filling any vacancy!