25
See all 25 photos
$1,700,000
Est. payment /mo
4 Beds
4 Baths
4,500 Sqft Lot
New
1922 Locust Avenue Long Beach, CA 90806
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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
HOA Y/N No
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. 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. One unit is currently vacant and rent-ready, offering the perfect opportunity for an owner-user or investor to quickly add value. This asset is currently operating at a 7.04% Cap Rate and a 9.81 GRM. 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.
We are proud to present 1922 Locust Avenue, 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. One unit is currently vacant and rent-ready, offering the perfect opportunity for an owner-user or investor to quickly add value. This asset is currently operating at a 7.04% Cap Rate and a 9.81 GRM. 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.
We are proud to present 1922 Locust Avenue, 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. One unit is currently vacant and rent-ready, offering the perfect opportunity for an owner-user or investor to quickly add value. This asset is currently operating at a 7.04% Cap Rate and a 9.81 GRM. 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
Area Long Beach (90806)
Zoning Assessor
Building
Story 2
Lot Size Range 4000-7499 SF
Level or Stories 2 Story
Others
Monthly Total Fees $1, 028
Acceptable Financing Cash, Conventional, Exchange
Space Rent $1,590
Listing Terms Cash, Conventional, Exchange
Listed by Ryan Versfelt • Lyon Stahl Investment Real Estate, Inc.