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1242 Cedar Avenue, Long Beach, CA 90813

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For Sale

$2,490,000

3 beds • 2 baths • 7,166 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $347.47
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

1242 Cedar Avenue is a 12-unit apartment asset located in Downtown Long Beach. The asset is priced at 5.70% cap rate and 11.38 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.
MLS# PW25124049

Courtesy Of Keller Williams Realty SELA

(562) 334-1500

Property Features

  • Age
    Over 50 Years Old
  • Architecture Style
    Other

Map and Directions

Directions to 1242 Cedar Avenue, Long Beach, CA 90813

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CENTURY 21 On Target

(562) 431-2011
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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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