Seller's Agent in 2025
Robert Stepp
Keller Williams Realty Downey
(310) 463-2916
6 in this area
75 Total Sales
1242 Cedar Ave Long Beach, CA 90813
Willmore Neighborhood
3
Beds
2
Baths
7,166
Sq Ft
7,504
Sq Ft Lot
Highlights
- 0.17 Acre Lot
- Laundry Room
- 5-minute walk to 14th Street Park
About This Home
As of October 20251242 Cedar Avenue is a 12-unit apartment asset located in Downtown Long Beach. The asset is priced at 7.00% cap rate and 9.60 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.
Last Agent to Sell the Property
Keller Williams Realty Downey Brokerage Phone: 310-463-2916 License #01456379 Listed on: 06/03/2025
Last Buyer's Agent
Keller Williams Realty Downey Brokerage Phone: 310-463-2916 License #01456379 Listed on: 06/03/2025
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1960
Lot Details
- 7,504 Sq Ft Lot
- Two or More Common Walls
- Density is 11-15 Units/Acre
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 7,166 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Parking
- 5 Open Parking Spaces
- 5 Parking Spaces
Listing and Financial Details
- Legal Lot and Block 5 / 1
- Tax Tract Number 5758
- Assessor Parcel Number 7272001006
- $2,134 per year additional tax assessments
Community Details
Overview
- 12 Units
- Downtown Subdivision
Amenities
- Laundry Facilities
Building Details
- Rent Control
- 12 Separate Electric Meters
- 12 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,543
- Fuel Expense $1,543
- Gardener Expense $1,200
- Insurance Expense $9,000
- Maintenance Expense $8,400
- Other Expense $3,600
- Pest Control $360
- Professional Management Expense $11,871
- Trash Expense $1,543
- Water Sewer Expense $1,543
- New Taxes Expense $31,344
- Operating Expense $72,946
- Gross Income $237,421
- Net Operating Income $164,475
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/06/2025 10/06/25 | Sold | $2,280,000 | -3.0% | $318 / Sq Ft |
| 08/13/2025 08/13/25 | Price Changed | $2,350,000 | -5.6% | $328 / Sq Ft |
| 06/17/2025 06/17/25 | Price Changed | $2,490,000 | -6.0% | $347 / Sq Ft |
| 06/13/2025 06/13/25 | Price Changed | $2,650,000 | -5.4% | $370 / Sq Ft |
| 06/03/2025 06/03/25 | For Sale | $2,800,000 | -- | $391 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Robert Stepp
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW25124049
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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