$2,350,000 - 1242 Cedar Avenue, Long Beach
- 3Beds
- 2Baths
- 0.17Acres
Long Beach Home Sale
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 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.
Sales Agent
- Sam Smith
- San Clemente Realtor ®
- Phone: 949-204-5110
- Cell: 949-204-5110
- Contact Agent Now
Amenities
- Parking Spaces5
- PoolNone
Additional Information
- Date ListedJune 3rd, 2025
- Days on Market72
- ZoningLBPD10
- Short SaleN
- RE / Bank OwnedN
Essential Information
- MLS® #PW25124049
- Price$2,350,000
- Bedrooms3
- Bathrooms2.00
- Acres0.17
- Year Built1960
- TypeResidential Income
- Sub-TypeApartment
- StatusClosed
- Listing AgentRobert Stepp
- Listing OfficeKeller Williams Realty Downey
Exterior
- Lot DescriptionElevenToFifteenUnitsAcre
Community Information
- Address1242 Cedar Avenue
- Area4 - Downtown Area, Alamitos Beach
- SubdivisionDowntown (DT)
- CityLong Beach
- CountyLos Angeles
- Zip Code90813
Interior
- # of Stories2
- StoriesTwo
Price Change History for 1242 Cedar Avenue, Long Beach, (MLS® #PW25124049)
| Date | Details | Price | Change |
|---|---|---|---|
| Closed (from Active) | – | – | |
| Price Reduced | $2,350,000 | $140,000 (5.62%) | |
| Price Reduced | $2,490,000 | $160,000 (6.04%) | |
| Price Reduced (from $2,800,000) | $2,650,000 | $150,000 (5.36%) |
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Similar Neighborhoods to "" in Long Beach, California
Back to ResultsDowntown (dt)
- City:
- Long Beach
- Price Range:
- $269,000 - $4,500,000
- Current Listings:
- 25
- HOA Dues:
- $5
- Average Price per Square Foot:
- $
Washington
- City:
- Long Beach
- Price Range:
- $2,250,000 - $2,250,000
- Current Listings:
- 1
- HOA Dues:
- $0
- Average Price per Square Foot:
- $
Eastside (es)
- City:
- Long Beach
- Price Range:
- $699,000 - $5,300,000
- Current Listings:
- 20
- HOA Dues:
- $0
- Average Price per Square Foot:
- $
Based on information from California Regional Multiple Listing Service, Inc. as of February 14th, 2026 at 4:35am PST. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.