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Listed by Robert Stepp, DRE #01456379 • Keller Williams Realty Downey
$ 2,550,000
Est. payment /mo
New
1123 Cedar Long Beach, CA 90813
7,452 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26180162
Year Built 1964
Lot Size 7,452 Sqft
Source California Regional MLS
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 6.44% 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 five spacious two-bedroom units and six 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 six detached garages further diversify revenue while also presenting potential ADU conve
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Laundry Community Facility
Exterior
Garage Spaces 6.0
Pool None
Building
Water District - Public
Others
Tax ID 7272006006
Special Listing Condition Not Applicable
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