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Listed by Ryan Versfelt • Lyon Stahl Investment Real Estate, Inc.
$ 1,700,000
Est. payment /mo
Active
1922 Locust Avenue Long Beach, CA 90806
4,732 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,732 sqft
Price per Sqft $359
MLS Listing ID CRSB25107697
HOA Y/N No
Year Built 1946
Lot Size 4,500 Sqft
Property Sub-Type Other
Source Datashare California Regional
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
Interior
Fireplace No
Laundry See Remarks
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