$1,700,000

1922 Locust Avenue, Long Beach, CA 90806

4 beds |
4 baths

Multi-Family Home
Built in ——
4,500sqft lot
—— car garage
$——/sqft
Listed 6 months ago

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.

Listing Status:: Active
Listing Office:: Lyon Stahl Investment Real Estate, Inc. : 310-425-9838
Listing Agent:: Ryan Versfelt : 310-748-1445
MLS ID:: SB25107697

Pool: N/K

General: 2 Story

Originating MLS: California Regional MLS
County: Los Angeles

Zoning: Assessor7209014024

Source: California Regional MLS

This listing courtesy of Ryan Versfelt, Lyon Stahl Investment Real Estate, Inc.

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

Ready to Start a VA Loan?

Get Started

NMLS #1907 ^†

Get Prequalified »

Interest rates used in the VA mortgage calculator are shown for illustrative purposes only. Your rate may differ based on a variety of factors, including your credit score and the current market conditions. To get your personalized interest rate, start your quote online.

Location

Schools Nearby

Smith Elementary School

565 E Hill St, Long Beach, CA, 90806

Grades KG-5

0.46 miles away

Washington Middle School

1450 Cedar Ave, Long Beach, CA, 90813

Grades 6-8

0.53 miles away

Educational Partnership High School

1794 Cedar Ave, Long Beach, CA, 90813

Grades 9-12

0.29 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.