REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Robin Aimaq

[email protected] +1(818) 298-6441

$ 2,530,000

Est. payment -/mo

Save

Price Dropped by $10K

1123 Cedar Long Beach, CA 90813

7,453 Sqft Lot

UPDATED:

Key Details

Property Type Single Family Home, Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Subdivision Willmore District (Wm)

MLS Listing ID PW26180162

HOA Y/N No

Year Built 1964

Lot Size 7,453 Sqft

Property Sub-Type Mixed Use

Property Description

1123 Cedar Avenue presents the opportunity to acquire a well-maintained 11-unit multifamily asset offering an attractive combination of immediate cash flow, operational stability, and long- term upside in Willmore City Historic District. Offered at a 6.55% current cap rate with additional rental upside, the property delivers compelling day-one returns while providing investors with multiple opportunities to further enhance income and overall asset value. Originally constructed in 1964, the property has benefited from extensive system upgrades that substantially reduce future capital expenditure requirements, including new plumbing, new electrical wiring and panels, individual tankless water heaters, upgraded wall furnaces, and a recently sealed roof. These improvements position the asset as a durable, low-maintenance investment with limited near-term deferred maintenance. The property's desirable unit mix of (6) spacious two-bedroom units and (5) one-bedroom units appeals to a broad renter demographic, while current rents remain below nearby market comparables, providing a clear path to future NOI growth through natural tenant turnover. Existing garage income, on-site laundry facilities, and (6) detached garages present potential ADU conversion opportunities, creating an additional long-term value creation strategy. Located just minutes from Downtown Long Beach and the 710 Freeway, the property benefits from exceptional commuter access and sits within a city experiencing significant public and private investment. Continued expansion in aerospace, logistics, healthcare, technology, and infrastructure—including billions
of dollars of corporate investment, the growing "Space Beach" employment hub, and extensive preparations for the 2028 Olympic Games—continues to strengthen the city's long-term economic outlook and support sustained rental demand. For investors seeking stable cash flow with meaningful upside, limited capital expenditure risk, and multiple avenues for future appreciation, 1123 Cedar Avenue represents a compelling opportunity to acquire a quality multifamily asset in one of Long Beach's most dynamic rental markets.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 6.0

Garage Description 6.0

Pool None

Community Features Sidewalks

Total Parking Spaces 6

Private Pool No

Building

Lot Description 11-15 Units/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7272006006

Energy Description 1692.0

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Robert Stepp Keller Williams Realty Downey 310-463-2916, DRE #01456379

Nearby Locations

Robin Aimaq

+1(818) 298-6441

Welcome

Looking to buy?

Looking to sell?

Contact

Robin Aimaq

1123 Cedar Long Beach, CA 90813

Key Details

Location

Interior

Exterior

Building

Others

Nearby Locations

GET MORE INFORMATION

Go tour this home

1123 Cedar