1242 Cedar Avenue

Long Beach CA 90813

7504 sq. ft.

Multi-Family

Last sold for $2,280,000

Robert Stepp, last sold this property on 06 October 2025 after 97 days on market.

Overview

1242 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 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.

Features

3 bedrooms

2 bathrooms

7504 sq. ft. lot size

Multi-Family

Estimated Value

Based on this property and similar 3 bedroom multi families sold in Long Beach over the last 12 months, the estimated median property value of 1242 Cedar Avenue is $2.37m.

Median value

$2.37m

Estimated value range

$1.05m - $4.3m

Median days on market

Estimated value trend

increase over the last 12 months

Average days on market is based on recent, comparable sales in Long Beach. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 1242 Cedar Avenue

2025

Sold

$2,280,000

06 Oct 2025 by Robert Stepp, of Keller Williams Realty Downey

Happy sellers in Long Beach

We have insufficient information to provide an overview of customer satisfaction for Long Beach. Viewing the agent profiles, reviews and sales for Long Beach can provide insights for this location.