1415 Cedar, Long Beach, California 90813, Long Beach, 90813 - bed, bath
ACTIVE$2,095,000
1415 Cedar, Long Beach, California 90813
0Bed
0Bath
6,922Sqft
6,602Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Strong Financial Performance & Upside: The property boasts high in-place cash flow with a 6.2% cap rate, offering significant market upside potential to a 7.4% cap rate, indicating robust investment returns.
Top Cons:
Property Age & Potential Deferred Maintenance: Built in 1949, the property's age suggests potential for aging infrastructure beyond the recently replaced windows, which may necessitate future capital expenditures for other systems.
Compared to the nearby listings
Price:$2.10M vs avg $2.10M (+$0)50%
Size:6,922 sqft vs avg 6,044 sqft60%
Price/sqft:$303 vs avg $32440%
More Insights
Built in 1949 (76 years old).
Condition: Built in 1949, this multi-unit property shows signs of regular maintenance and some recent updates, such as newly replaced windows (2025) and updated flooring/ceiling fans in at least one bedroom. However, the kitchens and bathrooms are significantly dated in style, featuring older tiled countertops, backsplash, and vanity designs, suggesting renovations that are likely 20-30+ years old. While clean and functional, these key areas require minor updates to meet current aesthetic standards. The property is aged but maintained, fitting the 'Fair' category.
Year Built
1949
Close
-
List price
$2.1M
Original List price
$2.1M
Price/Sqft
$303
HOA
-
Days on market
-
Sold On
-
MLS number
SB25266595
Home ConditionFair
Features
View-
About this home
Large high yield postwar 10 unit property in a dense high demand rental area of Long Beach. Great unit mix with five 2 bed/1 bath units, four 1 bed/1 bath units, and one studio in nearly 7,000 square feet of rentable space. High in-place cash flow at close with actual rents at 9.59X gross and a 6.2% cap rate plus a 12% upside to 8.43X GRM and a 7.4% cap rate at market. Community laundry room plus 5 garages for additional income or ADU conversion potential. All windows recently replaced in 2025. Convenient location in the Washington neighborhood directly across the street from Washington Middle School, currently undergoing a massive $176 Million reconstruction project. Excellent transit access only a few blocks to the metro blue line rail station, PCH, and the 710 freeway. Just 7 blocks North of Downtown Long Beach, with ongoing new developments of over $8 Billion. Walk Score 86/100
Nearby schools
7/10
Roosevelt Elementary School
Public,•K-5•0.5mi
7/10
International Elementary School
Public,•K-5•0.7mi
5/10
Edison Elementary School
Public,•K-5•0.8mi
8/10
Lafayette Elementary School
Public,•K-5•1.2mi
6/10
Washington Middle School
Public,•6-8•0.1mi
6/10
Polytechnic High School
Public,•9-12•0.6mi
3/10
Cabrillo High School
Public,•9-12•1.3mi
Price History
Date
Event
Price
03/26/21
Sold
$2,195,000
05/22/18
Sold
$1,975,000
11/18/15
Sold
$1,420,000
01/22/14
Sold
$960,000
07/26/05
Sold
$1,090,000
Condition Rating
Fair
Built in 1949, this multi-unit property shows signs of regular maintenance and some recent updates, such as newly replaced windows (2025) and updated flooring/ceiling fans in at least one bedroom. However, the kitchens and bathrooms are significantly dated in style, featuring older tiled countertops, backsplash, and vanity designs, suggesting renovations that are likely 20-30+ years old. While clean and functional, these key areas require minor updates to meet current aesthetic standards. The property is aged but maintained, fitting the 'Fair' category.
Pros & Cons
Pros
Strong Financial Performance & Upside: The property boasts high in-place cash flow with a 6.2% cap rate, offering significant market upside potential to a 7.4% cap rate, indicating robust investment returns.
Strategic Location & Accessibility: Located in a dense, high-demand rental area of Long Beach with excellent transit access to the Metro Blue Line, PCH, and 710 freeway, complemented by a high Walk Score of 86.
Value-Add Opportunities: Includes a community laundry room and 5 garages, providing immediate additional income streams and potential for future ADU conversions to further enhance value.
Diverse & Desirable Unit Mix: A well-balanced unit mix of five 2-bed/1-bath, four 1-bed/1-bath, and one studio unit appeals to a broad tenant demographic, supporting stable occupancy.
Recent Capital Improvements & Neighborhood Investment: All windows were recently replaced (2025), and the property benefits from direct proximity to a massive $176 Million reconstruction project at Washington Middle School, signaling ongoing area improvement.
Cons
Property Age & Potential Deferred Maintenance: Built in 1949, the property's age suggests potential for aging infrastructure beyond the recently replaced windows, which may necessitate future capital expenditures for other systems.
Absence of Views: The property explicitly states 'None' for views, which could be a minor detractor for tenant appeal and overall market value compared to properties with scenic outlooks.
Short-Term Construction Impact: Being directly across from a school undergoing a $176 Million reconstruction project may lead to temporary noise, dust, and traffic disruptions for tenants.