$1,700,000/mo

1922 Locust, Long Beach, CA 90806

4,732 sqft

Rent shown is base rent as provided by the property owner or manager. Additional mandatory fees, deposits, or utilities may apply and are set by the property owner or manager.

Rental
Built in 1946
4,500sqft lot
—— car garage
$359/sqft
Listed 9 days ago

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.