1123 Cedar, Long Beach, CA 90813
1123 Cedar, Long Beach, CA 90813
1123 Cedar, Long Beach, CA 90813
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Sharad Gupta

Sharad Gupta

+1(408) 401-1003
Listed by Robert Stepp, DRE #01456379 • Keller Williams Realty Downey
$2,499,999
Est. payment /mo
7,452 Sqft Lot
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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 6.65% 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 addition

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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Sharad Gupta
Sharad Gupta

Broker License ID: 02213637

+1(408) 401-1003

5201 Great America Pkwy, Santa Clara, CA 95054, USA

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1123 Cedar

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