1217 Cedar Avenue

Property Overview

BIG PRICE REDUCTION - PRICED TO SELL AT 8.6 GRM & 7.6% CAP WITH UPSIDE TO 8.0% CAP. Earn over an 11% cash on cash return against in place rents. 14 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7%). The property is professionally managed and well maintained. Some units have updated kitchens, baths and flooring. The property also just received updated landscaping and paint. The building features and excellent unit mix for the area and is located blocks from $8BB worth of redevelopment in the Down Town Long Beach area. There is no onsite parking but there is onsite laundry. The electrical is Siemens - it's a 200 AMP main panel with 30 AMP subpanels (Buyer to verify). Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. The City of Long Beach also just approved a $38MM makeover of the Long Beach Airport in preperation for the 2028 Olympics. Qualfied Buyers can get a new loan at 6.1% Fixed for 5 years, Interest Only with 30% down.

Home Details

Property type: Residential Income
Year built: 1929
Living area: 8,086 sq ft
Lot size: 7,135 sq ft
Stories: 2
Days on market: 181
MLS status: Active
Zoning: LBPD10

Features & Amenities

Parking

None

Community, Schools & Utilities

Utilities

Heating: WallFurnace
Cooling: None

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Location & Neighborhood

Long Beach, CA 90813

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Frequently Asked Questions About 1217 Cedar Avenue

Property type: Residential Income

The current asking price is $2,219,000. Pricing is subject to change and may vary based on market conditions, negotiations, and property updates. Contact our team to verify current pricing.

Yes. Use the Book Visit action or contact form to request an in-person or virtual tour of 1217 Cedar Avenue. Our team will confirm availability and timing.

This 6 bedrooms and 14 bathrooms property offers approximately 8,086 square feet of living space. It was built in 1929. Review the listing details and disclosures, then independently verify material features before making a decision.

The property is in Long Beach, California. Review the map, visit at relevant times of day, and verify schools, commute routes, services, noise, hazards, and local rules for the exact address.

Financing depends on the buyer, lender, property type, condition, appraisal, insurance, and association documents. A qualified lender can confirm available programs and costs for this Long Beach property.

The MLS currently reports the property as Active. It has been listed for 181 days. Status can change, so verify availability before relying on it.