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Listed by Cameron Samimi, DRE #02035763 • Lyon Stahl Investment Real Estate, Inc.
$ 1,700,000
Est. payment /mo
Active
1922 Locust Long Beach, CA 90806
4,500 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB26104278
Year Built 1946
Lot Size 4,500 Sqft
Source California Regional MLS
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.
Location
State CA
County Los Angeles
Area 5 - Wrigley Area
Interior
Laundry None
Exterior
Parking Features No Parking
Pool None
Building
Water District - Public
Others
Tax ID 7209014024
Special Listing Condition Not Applicable
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