1922 Locust Avenue, Long Beach, CA 90806

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Glen Henderson

[email protected] +1(619) 889-7646

$1,700,000

Est. payment - /mo

4 Beds

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB25107697

Bedrooms 4

Property Sub-Type Res Income 2-4 Units

Type of Financing Cash,Conventional,Exchange

Property Type Res Income 2-4 Units

Property Description

7.32% Cap Rate and a 9.52 GRM, 1922 Locust Ave, is an 8-unit apartment building located in the South Wrigley submarket of Long Beach. Priced at just $212k/unit, this investment offers a compelling mix of immediate cash flow and long-term upside in a rapidly developing market. The property is comprised of (8) 1-Bed/1-Bath units, with five recently remodeled. Three units are currently vacant and rent-ready, offering the perfect opportunity for an owner-user or investor to quickly add value. Situated just outside the booming Downtown Long Beach core, 1922 Locust Ave is primed to benefit from over $6 Billion in local investment, including transformational projects like the Long Beach Civic Center, Queen Mary Island, CSULB Downtown Village, Broadway Block, and the Ocean Aire Development. No local rent control - subject to AB-1482 CA Statewide rent control, which allows 5%+CPI rental increases.

Location

State CA

County Los Angeles

Zoning Assessor

Direction Off of Pacific Coast Highway and Long Beach Blvd

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 7209014024

Acceptable Financing Cash, Conventional, Exchange

Listing Terms Cash, Conventional, Exchange

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Listed by Ryan Versfelt Lyon Stahl Investment Real Estate, Inc.

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Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

1922 Locust Avenue Long Beach, CA 90806

Glen Henderson

Key Details

Location

Interior

Exterior

Building

Others

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