1922 Locust, Long Beach, CA 90806
- $1,700,000
- List Price
- $1,700,000
- Status
- ACTIVE
- MLS#
- SB26104278
- Year Built
- 1946
- Lot Size
- 4,500
- Acres
- 0.10
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 77
- Property Type
- Multifamily
- Property Sub Type
- Apartment
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.
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Additional Information
- Pool Description
- None
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 8
- Gross Scheduled Income
- $177,180
- Operating Expense
- 48664
Listing courtesy of Listing Agent: Cameron Samimi (cameron@lyonstahl.com) from Listing Office: Lyon Stahl Investment Real Estate, Inc..
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.