1217 Cedar Ave, Long Beach, CA 90813
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1217 Cedar Ave, Long Beach, CA 90813
1217 Cedar Ave, Long Beach, CA 90813
1217 Cedar Ave, Long Beach, CA 90813
1217 Cedar Ave, Long Beach, CA 90813
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Cristian Farias

Cristian Farias

Engel & Völkers

+1(619) 808-6567
$ 2,499,000
Est. payment /mo
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Active

1217 Cedar Ave Long Beach, CA 90813

6 Beds

14 Baths

8,086 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 8,086 sqft

Price per Sqft $309

MLS Listing ID 26825645

Bedrooms 6

Year Built 1929

Lot Size 7,135 Sqft

Acres 0.1638

Property Sub-Type Multi-Family

Property Description

PRICED TO SELL AT 9.7 GRM & 6.5% CAP WITH UPSIDE TO 6.8% CAP. 14 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.0%). The property is professionally managed and well maintained. EARN OVER 10% CASH ON CASH AGAINST IN-PLACE RENTS. 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 with as little as 25% down. 5.05% Fixed for 5 years, Interest Only.

Location

State CA

County Los Angeles

Area Downtown Area, Alamitos Beach

Zoning LBPD10

Rooms

Other Rooms None

Interior

Heating Wall

Cooling None

Equipment None

Exterior

Parking Features None

Building

Story 2

Level or Stories Multi/Split

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by The Agency
Cristian Farias

Cristian Farias

Advisor

+1(619) 808-6567

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1217 Cedar Ave