1922 LocustLong Beach, CA 90806

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

128

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.