Backup offers
#SB25099702, Anthony Walker, Listing office: Buckingham Investments, Inc
#PW25124049·
Listing office: Keller Williams Realty Downey·
Listing agent: Robert Stepp·
Listing office phone: 310-463-2916
$2,490,000 List price
1242 Cedar Ave Long Beach, CA 90813
0.2 acres
Condo
Property details
About 1242 Cedar Ave
1242 Cedar Avenue is a 12-unit apartment asset located in Downtown Long Beach. The asset is priced at 6.57% cap rate and 10.12 GRM at current rents. The property is comprised of (9) 1 Bed/1Bath units and (3) 2 Bed/1 Bath units. Seven of the 12 units are fully renovated with new flooring and modern kitchens and baths featuring designer fixtures and finishes. The secured-access building has undergone key capital improvements, including new windows, fresh exterior paint, and upgraded electrical systems throughout. Additional income is generated from on-site parking and tenant- accessible laundry facilities. With a Walk Score of 89, the property is ideally positioned for tenant convenience, offering close proximity to a wide range of amenities, including shops, restaurants, and entertainment venues. The location is also within walking distance of the East Village Arts District, one of Long Beach’s most vibrant and sought-after neighborhoods, known for its creative energy and strong rental demand. 1242 Cedar Avenue offers investors a well-maintained asset with upside in an infill location experiencing continued growth and revitalization.
Highlights
Home typeCondominium
StatusActive
Lot size0.1723 Acres
Year built1960
MLS #PW25124049
Summary
- Private Pool: No
- List Price: $2,490,000
- Annual Tax Amount: $39,511
- Tax Year: 2024
- Directions: Cedar Ave
- Year Built: 1960
- Stories: 2
- Lot Size: 0.1723 Acres
- MLS Number: PW25124049
- MLS Name: CRMLS
- Office Name: Keller Williams Realty Downey
- Office Phone: (310) 463-2916
- Listing Agent: Robert Stepp
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 7/15/2025, 8:45:29 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Feb 28, 2022 | Home Sold | $2,890,000 |
| Mar 05, 2004 | Home Sold | $974,500 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $3,008,556 | $39,511 |
| 2023 | $2,949,600 | $38,835 |
| 2022 | $1,426,759 | $19,027 |
| 2021 | $1,398,820 | $18,603 |
| 2020 | $1,382,696 | $18,336 |
| 2019 | $1,355,585 | $17,820 |
| 2018 | $1,329,006 | $17,630 |
| 2017 | $1,302,948 | $17,630 |
History based on county public records data.
Nearby schools
5
Oropeza Elementary School
Public District KG-5
0.5 mi
•700 Locust Ave
6
Roosevelt Elementary School
Public District KG-5
0.6 mi
•1574 Linden Ave
6
Edison Elementary School
Public District KG-5
0.6 mi
•625 Maine Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $21,202. Most Long Beach, CA residents have annual incomes less than $<35k. The majority of families are single, no kids. Typical level of education for residents in this area is high school diploma.
How much money do the neighbors make?
72%
<35k
24%
35k-100k
3%
100k-200k
1%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
55%
Single, No Kids
17%
Single, with Kids
12%
Married, No Kids
16%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
18%
<11 yrs old
9%
12-17 yrs old
25%
18-34 yrs old
32%
35-64 yrs old
16%
65+ yrs old
What do the neighbors do for fun?
Pro Boxing
Mexican League Soccer
Major League Soccer (MLS)
Where do the neighbors shop?
H&M
Ross Dress For Less
Burlington
Where do the neighbors go to eat?
Boston Market
Jack In The Box
White Castle
What do the neighbors drive?
Honda
Nissan
Kia
What do the neighbors listen to?
Rhythmic Contemporary Hits
Urban Adult Contemporary
All data provided by Home Junction and Claritas
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Frequently asked questions
About 1242 Cedar Ave
The listing price of 1242 Cedar Ave property is $2,490,000.
The property 1242 Cedar Ave is a condo located in Long Beach, California, 90813.
Active Listing: 1242 Cedar Ave is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 1242 Cedar Ave are: Oropeza Elementary School (GreatSchools Rating 5/10), Roosevelt Elementary School (GreatSchools Rating 6/10), Edison Elementary School (GreatSchools Rating 6/10), Washington Middle School (GreatSchools Rating 3/10), Franklin Classical Middle School (GreatSchools Rating 4/10), Jessie E. Nelson Academy (GreatSchools Rating 4/10), Renaissance High School for the Arts (GreatSchools Rating 5/10), Intellectual Virtues Academy (GreatSchools Rating 5/10), Educational Partnership High School (GreatSchools Rating 2/10).
According to the records, the last property tax for 2024 is $39,511 (source: MLS/based on county public records data).
The last sale was on February 28, 2022 for $2,890,000 (source: MLS/tax record).
The property at 1242 Cedar Ave has 0 bathroom.
The year of construction for 1242 Cedar Ave is 1960.
This home is located at 1242 Cedar Ave in Long Beach, CA and zip code 90813 in the The Harbor neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since June 3, 2025 and is currently priced at $2,490,000.
In June 2025 more than 73 listings in Long Beach, CA were sold above the asking price. During the same period more than 33 listings were sold at asking price, while more than 90 were sold below. Between May and June 2025, Long Beach, CA real estate market has seen increase in the number of listings by 4.8%. The median list price of listings available in June 2025 was $836,224, while the average time on the real estate market was 34 days.
From Rocket Homes Real Estate and based on county public records data.