1922 LocustLong Beach, CA 90806
Los Angeles County
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.
Property Information
- Property type
- Residential Income
- Sub-type
- Apartment
- Year built
- 1946
- Stories
- 2
- Building area
- 4,732 Sq Ft
- Lot size
- 0.10 acres
- Days on market
- 127
- MLS® Listing#
- SB26104278
Property Features
- Pool
- None
- Parking
- None
- Laundry
- None
- Community
- Sidewalks
- Sewer
- Public Sewer
- Water source
- Public
- Parcel number
- 7209014024
Directions
710 FWY to Pacific Coast Hwy exit, east on Pacific Coast Hwy, north on Locust Ave to property.
Listing Courtesy: Lyon Stahl Investment Real Estate, Inc. - 3104259838
Presented by: Cameron Samimi
Licensed in the state of California.
Long Beach Market Statistics
How this home compares to 820 active listings in Long Beach, CA
| Long Beach median | This listing | |
|---|---|---|
| Median listing price | $880,672 | $1,700,000 |
| Median days on market | 58 | 127 |
| Median Sq Ft | 1,407 | 4,732 |
| Median price / Sq Ft | $581 | $359 |
Market statistics compiled from active EXIT Realty® and MLS listings in Long Beach, CA.
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Similar Home Values
Comparable nearby listings and their asking prices.
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| 426 E 17th, Long Beach, CA | $1,650,000 | — | — | 4,320 |
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| 1876 Henderson Avenue, Long Beach, CA | $1,600,000 | — | — | 4,877 |
