Home | Los Angeles County | Long Beach | 90813 | 1123 Cedar
MLS: CRPW26180162 | Status: | Price: $2,550,000
Beds/Baths: – / –
Property Type: Residential Income
| Beds | Baths | Sq Ft | Sq Ft Lot | Yr Built |
|---|---|---|---|---|
| – | – | – | 7,452 | 1964 |
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
| Field | Value |
|---|---|
| MLS # | CRPW26180162 |
| MLS Source | California Regional MLS |
| Days on Site | 0 |
| Feature | Details |
|---|---|
| Laundry | Community Facility |
| Feature | Details |
|---|---|
| Garage/Parking | Garage: 6 Car(s) |
Robert Stepp
Keller Williams Realty Downey
License #: 01456379
Phone: (310) 774-3740
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | – | – |
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This listing information is up-to-date as of August 18, 2026. For the most current information, please contact Robert Stepp, (310) 774-3740.