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
New
1922 Locust Avenue Long Beach, CA 90806
4 Beds
4 Baths
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
HOA Y/N No
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.
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.
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
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
Listing Terms Cash, Conventional, Exchange
Listed by Ryan Versfelt • Lyon Stahl Investment Real Estate, Inc.
GET MORE INFORMATION