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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Listed by Ryan Versfelt • Lyon Stahl Investment Real Estate, Inc.
$1,700,000
Est. payment /mo
4,500 Sqft Lot
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Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CRSB25107697

Year Built 1946

Lot Size 4,500 Sqft

Source California Regional MLS

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

Exterior

Pool None

Building

Water District - Public

Others

Tax ID 7209014024

Special Listing Condition Not Applicable


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agent
Sharad Gupta

Broker | License ID: 02213637

+1(408) 401-1003

5201 Great America Pkwy, Santa Clara, CA, 95054, USA

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