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$2,249,000

1217 Cedar Avenue

Long Beach, CA 90813

Active

Beds

Baths

8,086

Sq. Ft.

1929

Year Built

Los Angeles

County

ResidentialIncome

Property Type

About this home

BIG PRICE REDUCTION - PRICED TO SELL AT 8.7 GRM & 7.5% CAP WITH UPSIDE TO 7.9% 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 6.1% Fixed for 5 years, Interest Only.

Listed by Jonathan Swire · DRE #01336277 · The Agency

MLS #1168384296

ListedApr 28, 2026

Property Details

Architecture

Stories2

StyleN/A

Total Units14

RoofN/A

Garage SpacesN/A

PoolN/A

SpaN/A

Features & Amenities

Interior FeaturesN/A

Exterior FeaturesN/A

FlooringN/A

CoolingNone

HeatingWall Furnace

FireplaceN/A

LaundryN/A

Parking FeaturesNone

Parking Total0

Patio & PorchN/A

Entry LevelN/A

Entry LocationN/A

Common WallsN/A

Property Features

Lot Size0.16 ac

Lot FeaturesN/A

ViewN/A

Directions14 units in Long Beach close to downtown.

Community

Area4 - Downtown Area, Alamitos Beach

School DistrictN/A

Tax & Financial

TermsN/A

Land LeaseN/A

HOA NameN/A

HOA FeeN/A

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Mortgage Estimate

$11,970/mo

20% down · 7% APR · 30-yr fixed

Purchase PriceDown Payment: 20%Interest Rate: 7%

Estimate only. Does not include taxes, insurance, or HOA.

Last updated: October 21, 2026 at 10:00 PM

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