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Sold on 07/29/2025
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338 Cedar Ave, Long Beach, CA 90802

$3,949,753

Last sold 07/29/2025 after 666 Days

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    bed

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    bath

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About 338 Cedar Ave

Property type Multi-family
Neighborhood
Year built 1918
HOA fee $0/month
Lot size 7,503 Sqft
Rental estimate
Property description
338 Cedar Avenue is a 17-unit apartment asset in Downtown Long Beach. The property is offered at 10.98 GRM on current rents. The property is comprised of (2) three- bedroom units, (5) two-bedroom units, and (10) one-bedroom units. All of the units have been fully remodeled with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathroom vanities, tiling, and modern fixtures and features throughout. All renovated units offer in-unit washers and dryers.The property is located in prime Downtown Long Beach, steps from a plethora of retail and dining amenities as well as the $520M, 22-acre Civic Center redevelopment, and a two-minute walk to the Metro A Blue Line Pacific Station stop.
Listed by
Listing Agent - Robert Stepp
Listing Agent Contact: 310-463-2916
Listing Office - Keller Williams Realty Downey
Source: CRMLS mls logo
MLS#PW23183991 • last updated 1 year ago
Movoto checked CRMLS for data 5 minutes ago
Overview
Levels/Style Two
Type Residential Income
SubType Commercial/Residential
Status Pending
Lot Size (Acres) 0.1722
Lot Size (SqFt) 7503
Year Built 1918
Interior
Laundry Inside
Exterior
Building Area Square Feet, 10150
Lot Description 16-20 Units/Acre
Amenities / Utilities
Sewer/ Septic Public Sewer
Water Source Public
Pool None
Location
County Los Angeles
Community Features Sidewalks
Subdivision Downtown (DT), Downtown (DT)
Zoning LBPD30
Directions Pacific Ave & Cedar Ave
APN 7280015006
Multifamily Details
Expense: Trash 424
Operating Expense 129399
Cap Rate 5.84
Expense: Insurance 10200
Total Expenses 129399
Expense: Maintenance 11900
Expense: Water/ Sewer 10328
Gross Income 382102
Expense: Electric 2510
Gross Multiplier 10.98
Gross Scheduled Income 393920
Expense: Fuel 4627
Expense: Gardener 1200
Rental est.: $1,150/month
Gross rent multiplier: 286.2
  • Jul 2025
    mls logo MLS # PW23183991
  • Jul 31, 2025 Sold
    $3,949,753
  • May 21, 2025 Pending
    —
  • Jun 26, 2024 Price Change
    $4,325,000 (-3.9%)
  • Nov 6, 2023 Price Change
    $4,500,000 (-5.3%)
  • Oct 2, 2023 Listed
    $4,750,000 (+32.3%)
  • Jul 2025
    Public Records
  • Jul 29, 2025 Sold
    $3,950,000 (-8.7%)
  • Mar 2018
    Public Records
  • Mar 14, 2018 Sold
    $3,590,000
  • Year Property taxes Tax assessment
  • 2024
    $52,244 +1.7%
    $4,008,810
  • 2023
    $51,360 +6.6%
    $4,008,810 +4.04%
  • 2022
    $48,195 +2.1%
    $3,853,304 +2.0%
  • 2021
    $47,225 +0.3%
    $3,777,830
  • 2020
    $47,102 +377.1%
    $3,777,830 +482.8%
  • 2018
    $9,873
    $648,219
  • 338 Cedar Ave
    $3.94M
  • Downtown Long Beach
    $399K -17% y/y
  • 90802
    $459K -8% y/y
  • Long Beach
    $699K 0% y/y
No chart available
Statistics calculated by Movoto

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5/10
Chavez Elementary School
public Grades K-5
Long Beach Unified School District
4/10
Washington Middle School
public Grades 6-8
Long Beach Unified School District
4/10
Cabrillo High School
public Grades 9-12
Long Beach Unified School District
Source: GreatSchools.org © 2026. All rights reserved.

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CRMLS Multiple Listing Service™ system
The real estate listing data marked with this icon comes from the IDX program of the CRMLS Multiple Listing Service™ system.
Based on information from California Regional Multiple Listing Service, Inc. as of 10/22/2026. This information 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. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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