Property Details
About this Property
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.
MLS Listing Information
MLS #
CRPW25124049
MLS Source
California Regional MLS
Days on Site
44
Interior Features
Laundry
Community Facility
Parking, School, and Other Information
Garage/Parking
Garage: 0 Car(s)
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | – | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
1242 Cedar Ave is a Residential Income in Long Beach, CA 90813. This – square foot property sits on a 7,504 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $2,490,000 and was built in 1960. This address can also be written as 1242 Cedar Ave, Long Beach, CA 90813.
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This listing information is up-to-date as of June 18, 2025. For the most current information, please contact Robert Stepp, (310) 774-3740
