1242 Cedar Avenue

Long Beach , CA 90813

MLS#: PW25124049

$2,490,000

Status: Active
Listing number: PW25124049
Listing provided by: Keller Williams Realty Downey
Listing agent phone: None
Last update: a month ago
On site: a month ago
Browse Properties
Downtown (DT) - Residential Income

Property

Beds

None

Full Baths

None

1/2 Baths

None

Year Built

1960

Sq.Footage

N/A

1242 Cedar Avenue is a 12-unit apartment asset located in Downtown Long Beach. The asset is priced at 6.57% cap rate and 10.12 GRM at current rents. The property is comprised of (9) 1 Bed/1Bath units and (3) 2 Bed/1 Bath units. Seven of the 12 units are fully renovated with new flooring and modern kitchens and baths featuring designer fixtures and finishes. The secured-access building has undergone key capital improvements, including new windows, fresh exterior paint, and upgraded electrical systems throughout. Additional income is generated from on-site parking and tenant- accessible laundry facilities. With a Walk Score of 89, the property is ideally positioned for tenant convenience, offering close proximity to a wide range of amenities, including shops, restaurants, and entertainment venues. The location is also within walking distance of the East Village Arts District, one of Long Beach’s most vibrant and sought-after neighborhoods, known for its creative energy and strong rental demand. 1242 Cedar Avenue offers investors a well-maintained asset with upside in an infill location experiencing continued growth and revitalization.

Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

Exterior

  • Garage

    No

  • Pool

    Yes

  • Pool Features

    None

Area & Lot

  • Lot Size(acres)

    0.1723

  • Property Type

    Residential Income

  • Property Sub Type

    Apartment

Price

  • Sales Price

    $2,490,000

  • Sq. Footage

    N/A

  • Price/SqFt

    N/A

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    2

  • Senior Community YN

    NO

  • Sewer

    Public Sewer

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Location

County

Los Angeles

Elementary School

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Listing Courtesy of Robert Stepp , Keller Williams Realty Downey

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1242 Cedar Avenue is a 12-unit apartment asset located in Downtown Long Beach. The asset is priced at 6.57% cap rate and 10.12 GRM at current rents. The property is comprised of (9) 1 Bed/1Bath units and (3) 2 Bed/1 Bath units. Seven of the 12 units are fully renovated with new flooring and modern kitchens and baths featuring designer fixtures and finishes. The secured-access building has undergone key capital improvements, including new windows, fresh exterior paint, and upgraded electrical systems throughout. Additional income is generated from on-site parking and tenant- accessible laundry facilities. With a Walk Score of 89, the property is ideally positioned for tenant convenience, offering close proximity to a wide range of amenities, including shops, restaurants, and entertainment venues. The location is also within walking distance of the East Village Arts District, one of Long Beach’s most vibrant and sought-after neighborhoods, known for its creative energy and strong rental demand. 1242 Cedar Avenue offers investors a well-maintained asset with upside in an infill location experiencing continued growth and revitalization.

1242 Cedar Avenue

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