Daniel DeForest
First Team Real Estate
(657) 300-5786
158 Total Sales
1 in Willmore
$553,000 Price
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 Facilities
- 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
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
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
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
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jun 3, 2025
Closed on
Sep 5, 2025
Sold by
Bought by
Seller's Agent
Robert Stepp
Keller Williams Realty Downey
Buyer's Agent
Robert Stepp
Keller Williams Realty Downey
List Price
$2,800,000
Sold Price
$2,280,000
Premium/Discount to List
-$520,000
-18.57%
Views
18
Purchase Details
Closed on
Jan 14, 2022
Sold by
Bought by
Purchase Details
Closed on
Nov 15, 2019
Sold by
Bought by
Purchase Details
Closed on
Jul 14, 2015
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$985,000
Interest Rate
4.01%
Mortgage Type
Commercial
Purchase Details
Closed on
May 22, 2015
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$985,000
Interest Rate
4.01%
Mortgage Type
Commercial
Purchase Details
Closed on
Sep 5, 2013
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$840,000
Interest Rate
4.36%
Mortgage Type
Commercial
Purchase Details
Closed on
Jun 16, 2009
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$881,250
Interest Rate
6.25%
Mortgage Type
Commercial
Purchase Details
Closed on
Mar 1, 2004
Sold by
Bought by
Purchase Details
Closed on
Feb 26, 2004
Sold by
Bought by
Purchase Details
Closed on
Nov 6, 2003
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$674,050
Interest Rate
5.61%
Mortgage Type
Commercial
Purchase Details
Closed on
Apr 28, 1999
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Willmore, CA
-
Daniel DeForest
-
Brad Hansen
Brad Hansen
ENRG Realty, Inc
(949) 570-5651
88 Total Sales
1 in Willmore
$580,000 Price
-
Katie Manes
Katie Manes
Keller Williams Realty
(626) 779-8568
23 Total Sales
1 in Willmore
$725,000 Price
-
Andrew York
Andrew York
Responds QuicklyPinnacle Estate Properties
(818) 647-9268
3 Total Sales
2 in Willmore
$439,000 Price Range
-
Dennis Fulmore
Dennis Fulmore
Dennis Wayne Group
(424) 688-7260
19 Total Sales
1 in Willmore
$345,000 Price
-
Leslie Stonick
Leslie Stonick
Compass
(424) 381-0410
72 Total Sales
1 in Willmore
$785,000 Price
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $2,280,000 | Chicago Title Company | ||
| $2,890,000 | Stewart Title Of California In | ||
| $2,890,000 | Stewart Title Of California In | ||
| -- | None Available | ||
| -- | Lawyers Title | ||
| -- | Lawyers Title | ||
| -- | Fidelity National Title Co | ||
| -- | Accommodation | ||
| -- | Accommodation | ||
| -- | -- | ||
| -- | -- | ||
| $974,500 | -- | ||
| -- | -- |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | -- | ||
| Previous Owner | $1,617,000 | ||
| Previous Owner | $1,200,000 | ||
| Previous Owner | $985,000 | ||
| Previous Owner | $985,000 | ||
| Previous Owner | $840,000 | ||
| Previous Owner | $881,250 | ||
| Previous Owner | $250,000 | ||
| Previous Owner | $674,050 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2026 | $41,312 | $2,280,000 | $1,400,000 | $880,000 |
| 2025 | $41,312 | $3,066,891 | $1,995,071 | $1,071,820 |
| 2024 | $39,511 | $3,006,756 | $1,955,952 | $1,050,804 |
| 2023 | $38,835 | $2,947,800 | $1,917,600 | $1,030,200 |
| 2022 | $19,027 | $1,424,959 | $741,989 | $682,970 |
| 2021 | $18,603 | $1,397,020 | $727,441 | $669,579 |
| 2019 | $18,337 | $1,357,385 | $705,865 | $651,520 |
| 2018 | $17,820 | $1,330,806 | $692,025 | $638,781 |
| 2016 | $16,395 | $1,277,401 | $665,153 | $612,248 |
| 2015 | $14,565 | $1,152,240 | $354,898 | $797,342 |
| 2014 | -- | $1,129,671 | $347,947 | $781,724 |
Source: Public Records
Agents Affiliated with this Home
-
Robert Stepp
Seller's Agent in 2025
Robert Stepp
Keller Williams Realty Downey
(310) 463-2916
5 in this area
81 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW25124049
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
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
Nearby Homes
- 1217 Cedar Ave
- 1273 Chestnut Ave
- 1123 Cedar Ave
- 1140 Pacific Ave Unit 19
- 1140 Pacific Ave Unit 20
- 1070 Chestnut Ave
- 1040 Cedar Ave
- 1238 Magnolia Ave
- 1425 Cedar Ave
- 1336 Locust Ave Unit 2
- 1336 Locust Ave Unit 4
- 1336 Locust Ave Unit 3
- 202 E 14th St Unit 6
- 202 E 14th St Unit 8
- 1208 Daisy Ave
- 939 Pacific Ave
- 200 E 14th St Unit 3
- 200 E 14th St Unit 6
- 200 E 14th St Unit 7
- 451 W 10th St
- 1242 Cedar Ave Unit I
- 1242 Cedar Ave Unit B
- 1242 Cedar Ave Unit L
- 1220 Cedar Ave
- 1249 Pacific Ave
- 235 W 12th St
- 1208 Cedar Ave
- 1245 Cedar Ave
- 1229 Cedar Ave
- 300 W Anaheim St
- 217 W 12th St
- 1223 Cedar Ave
- 1213 Cedar Ave
- 1203 Pacific Ave
- 225 W Anaheim St
- 1270 Chestnut Ave
- 319 W 12th St
- 1164 Cedar Ave
- 220 W 12th St
- 1266 Chestnut Ave
Your Personal Tour Guide
Ask me questions while you tour the home.