1242 Cedar Avenue, Long Beach, CA 90813

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Sheila Dadashzadeh

[email protected] +1(858) 375-6785

$2,490,000

Est. payment - /mo

3 Beds

2 Baths

7,504 Sqft Lot

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Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW25124049

Bedrooms 3

HOA Y/N No

Lot Size 7,504 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

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 Beachs 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 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 Beachs 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.

Location

State CA

County Los Angeles

Area Long Beach (90813)

Zoning Assessor

Building

Lot Description Sidewalks

Story 2

Lot Size Range 7500-10889 SF

Level or Stories 2 Story

Others

Monthly Total Fees $177

Acceptable Financing Cash, Exchange

Space Rent $1,811

Listing Terms Cash, Exchange

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Listed by Robert Stepp • Keller Williams Realty Downey

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Sheila Dadashzadeh

+1(858) 375-6785

Agent | CA BRE #01835591

Agent CA BRE #01835591

San Diego Communities

1242 Cedar Avenue Long Beach, CA 90813

Sheila Dadashzadeh

Key Details

Location

Building

Others

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