10-Unit Courtyard Apartment
For Sale
$2,025,000
1425 Cedar Ave, Long Beach, CA 90813
Two-building multifamily asset with gated entry, garage parking, and a mix of one- and two-bedroom residences.
Property Size6,222 SF
Days on Market58
Property Features for 1425 Cedar Ave
General Information
Standard status
Active
Size
6,222 SF
Property subtype
Multifamily
Amenities
Optimal Unit Mix: A 10-unit multifamily property featuring a highly desirable balance of one- and two-bedroom residences.
Property Specifications: Constructed in 1953, the asset consists of two buildings totaling approximately 6,222 rentable square feet.
Highly Valued Amenities: Offers a functional courtyard-style configuration complete with gated access and dedicated garage parking.
Strategic Central Location: Positioned near Downtown Long Beach with immediate access to major employment centers, transit, retail, and dining.
Massive Public Investment: Located directly across the street from the $176 million Washington Middle School campus rebuild project.
Major Neighborhood Catalyst: The new school campus will feature a state-of-the-art three-story classroom building, a 19,200-square-foot gymnasium, and an elevated sports field.
Clear Development Timeline: Vertical construction on the transformative school project is actively underway and on track for completion in 2028.
Strong Investment Profile: Combines an established operating history with practical, highly sought-after community features in the Long Beach rental market.
Building Details
Building Size
6,222 SF
Units
10
Listing Agency:
Orange County Office
(949) 419-3200
Listed By:
Nick Kazemi · License #CA: 02008945
(949) 419-3333
Source:
Marcusmillichap
Added: Aug 26
Changed: Oct 21
Last Checked: Oct 20 at 5:06PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Orange County Office
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Investment Insights
Based on property information with market context.
This 10-unit multifamily property comprises two buildings with approximately ± 6,222 rentable square feet. Built in 1953, the residences include a combination of one- and two-bedroom layouts arranged in a courtyard-style configuration. Gated entry and dedicated garage parking add practical features for residents.
The property is located near Downtown Long Beach, with access to public transportation, employment centers, retail, dining, and recreational destinations. Washington Middle School is situated across Cedar Avenue, where an ongoing transformation is contributing to public investment in the immediate area.
A 7.06% cap rate and established operating profile complement the property’s unit mix, physical layout, and resident-oriented features.
The property is located near Downtown Long Beach, with access to public transportation, employment centers, retail, dining, and recreational destinations. Washington Middle School is situated across Cedar Avenue, where an ongoing transformation is contributing to public investment in the immediate area.
A 7.06% cap rate and established operating profile complement the property’s unit mix, physical layout, and resident-oriented features.
Key Highlights
- 10‑unit multifamily property consisting of two buildings
- Approximately ± 6,222 rentable square feet
- One- and two‑bedroom unit mix
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$131,791
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,635,820
$2.6M
Cap Rate 7%
$1,882,729
$1.9M
Cap Rate 9%
$1,464,344
$1.5M
Market Conditions
NOI Build-Up for 6,222 SF
Gross rent
$250.1K $40.20/SF
− Vacancy
−$10.5K −$1.69/SF
EGI
$239.6K $38.51/SF
− OpEx
−$107.8K −$17.33/SF
NOI
$131.8K $21.18/SF
Area
ZIP 90813
Vacancy
4.20%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,635,820
Cap Rate 7%
$1,882,729
Cap Rate 9%
$1,464,344
Alternative Uses
Best Use
Apartment 5plus
$1.88M
$1.65M – $2.20M
NOI $131,791 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.04M
$1.79M – $2.38M
NOI $143,011 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
2,652
Businesses Nearby
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Business Placement
Demographics for 90813, CA
54,565
Population
18,603
Households
2.9
Avg Household Size
32
Median Age
16%
College-Educated
63%
High-School Grad
3.1 sq mi
ZIP Area
17,602
Density / Sq Mi
$50,302
Median Household Income
$31,450
Median Earnings
$1,578
Median Rent
$543,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-building multifamily asset with gated entry, garage parking, and a mix of one- and two-bedroom residences.
Where is this apartment building located?
The property is located at 1425 Cedar Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $2,025,000.
What are key features of this property?
This property features: 10‑unit multifamily property consisting of two buildings; Approximately ± 6,222 rentable square feet; One- and two‑bedroom unit mix
