USACALong BeachWillmore District (Wm)1123 Cedar Ave

1123 Cedar Ave, Long Beach, CA

Name: 1123 Cedar Ave, For Sale in Long Beach - eXp Realty
Brand: Keller Williams Realty Downey
SKU: PW26180162
Price: 2499999 USD

House

For Sale

Listed price in listed location currency (USD).

$2,499,999

006

MLS® PW26180162

Key Facts
Description
Map

Key Facts

Type Mixed Use

Levels Residential Income

Size -

Garage Yes

Taxes

Days Active 56

Lot Size 0.1711 Acres

Approx. Age 1964

MLS® Number PW26180162

Property Address: 1123 Cedar Ave, Long Beach, CA, 90813-5308

Average square foot calculated using Size range provided by listing agent.

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 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.

MLS® NumberPW26180162

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

GarageYes

Approx. Age1964

Basement

Driveway

Garage Spaces

Heat

A/C

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Aug 18, 2026List Date

$2,499,999List Price

Commute

Commute

Starting Address

Destination Address

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