REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,700,000
Est. payment /mo
Active
1922 Locust Avenue Long Beach, CA 90806
4 Beds
4,500 Sqft Lot
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
Lot Size 4,500 Sqft
Property Sub-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
Listed by Ryan Versfelt Lyon Stahl Investment Real Estate, Inc.
GET MORE INFORMATION
QUICK SEARCH