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CA > Long Beach
Long Beach, CA 90806,1922 Locust AVE
Long Beach, CA 90806,1922 Locust AVE
Long Beach, CA 90806,1922 Locust AVE
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Rich King

Rich King

+1(858) 405-2722
$1,700,000
Est. payment /mo
4,499 Sqft Lot
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UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB25107697

HOA Y/N No

Year Built 1946

Lot Size 4,499 Sqft

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

Fireplace No

Laundry See Remarks

Exterior

Pool None

Community Features Urban

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7209014024

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

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CRMLS – RECore
Listed by Ryan Versfelt Lyon Stahl Investment Real Estate, Inc. 310-748-1445

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agent

Rich King

+1(858) 405-2722

Broker Associate | License ID: 01520399

Broker Associate License ID: 01520399

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