Price Reduced Listing
$2,399,000
 $12,878 est/mo Sourced by Back At You

1217 Cedar Avenue,Long Beach, CA 90813

Long Beach, CA 90813

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Description

PRICED TO SELL AT 9.3 GRM & 6.8% CAP WITH UPSIDE TO 7.2% CAP. Earn over a 10% 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 5.40% Fixed for 5 years, Interest Only.

Details

MLS #26825645
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1929
Days On Site99
Listing Provided ByThe Agency | Jonathan Swire

Features

Bed(s)6
Bath(s)14
SQ Feet8,086
Story(s)2
Units14
Building(s)1
ZoningLBPD10
Acreage0.16

Interior

CoolingNone
HeatingWall Furnace
Heating Yes / NoYes
Cooling Yes / NoNo

Parking

Parking FeaturesNone

Area Information

StateCA
CountyLos Angeles
CityLong Beach
Zip Code90813
Area4 Downtown Area | Alamitos Beach
Listing VS Median (in 90813)
Price:
$2,399,000
low | high
Med:
$1,500,000
87.473947478116% of Average
sqft:
8,086
low | high
Med:
1,057
100% of Average
$ / sqft:
$297
low | high
Med:
$1,419
100% of Average
On site:
99
low | high
Med:
64
100% of Average
Sourced by Back At You

Market Activity 90813

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Learn More About This Property

David Hong

David Hong

Coldwell Banker Commercial

02207128 (760) 617-8885david.hong@cbcinland.com
StateCA
CountyLos Angeles
CityLong Beach
Zip Code90813
Area4 Downtown Area | Alamitos Beach
Listing VS Median (in 90813)
Price:
$2,399,000
low | high
Med:
$1,500,000
87.473947478116% of Average
sqft:
8,086
low | high
Med:
1,057
100% of Average
$ / sqft:
$297
low | high
Med:
$1,419
100% of Average
On site:
99
low | high
Med:
64
100% of Average
Sourced by Back At You
Nearby Listings (Within 1/10 mile)
Price: $1.799M - $2.998M
sqft: 6,000 - 10,000
Nearby Listings Property ImageNearby Listings Details
1123 Cedar Property Photo 1
$2,550,000
1123 Cedar
Long Beach, CA 90813
208 W Anaheim Property Photo 1
$2,700,000
208 W Anaheim
Long Beach, CA 90813
Listing Updated: August 21, 2026 at 11:26:36 PM PDT