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$ 1,700,000
Est. payment | /mo
4 Beds
4 Baths
4,500 Sqft Lot
$ 1,700,000
Est. payment | /mo
4 Beds
4 Baths
4,500 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26104278
Bedrooms 4
Lot Size 4,500 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
We are proud to present 1922 Locust Avenue, an 8-unit apartment building located in the South Wrigley submarket of Long Beach. This asset is currently operating at a 7.25% Cap Rate and a 9.59 GRM! 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.
Location
State CA
County Los Angeles
Zoning Assessor
Direction 710 FWY to Pacific Coast Hwy exit, east on Pacific Coast Hwy, north on Locust Ave to property.
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
Listing Terms Cash, Conventional
Listed by Cameron Samimi, DRE#02035763 Lyon Stahl Investment Real Estate, Inc.
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