1922 Locust AVE Active Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90806
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 4,732 sqft
Price per Sqft $359
MLS Listing ID SB25107697
HOA Y/N No
Year Built 1946
Lot Size 4,499 Sqft
Acres 0.1033
Property Sub-Type Apartment
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
Area 699 - Not Defined
Zoning LBPD29
Interior
Laundry See Remarks
Exterior
Pool None
Community Features Urban
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Special Listing Condition Standard
Lease Land No
Confidential INFO
TERMS 1031 Exchange,Cash,Cash To New Loan,Conventional
LIST AGRMT Exclusive Right To Sell
LIST SERVICE Full Service
SHOW CONTACT TYPE See Remarks
SHOW INSTRUCTIONS Drive by only. Do not disturb tenants. Offers subject to. Call Ryan Versfelt - (310) 748-1445