1775 Locust Ave - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$2,275,000 USD
310-948-2631
1775 Locust Ave, Long Beach, CA for Sale
$2,275,000 USD
Apartments - FOR SALE
1/13
null | 6.3% Cap Rate

1775 Locust Ave
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • PRICED TO SELL - Under 10X GRM with upside to 7.5% CAP.
  • EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
  • Excellent Unit mix for the area.
  • 30% down lender financing available to qualified Buyers.
  • Earn over a 10% cash on cash return at market rents.

OVERVIEW

PRICED TO SELL. Under 10X GRM with upside to a 7.5% CAP. 9 units in Long Beach. Excellent unit mix for the area. Well-maintained and professionaly managed property. Property is subject to AB 1482 Rent Control (5% + CPI increase allowed). 4 garages in the rear. Onsite laundry. A number of units here are rented to Section 8 and Housing Programs - rents could easily be pushed higher based on Payment Standards for the 90813 zip code. The 4 garages in rear could potentially be converted to ADU's - Buyer to verify. 30% down lender financing available to qualified Buyers. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.

FOR SALE DETAILS

PRICE

$2,275,000 USD

PRICE/SF

$317 USD /SF

# OF UNITS

9

PRICE/UNIT

$252,778

CAP RATE

6.3%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,497 SF

ZONING

R4R

APN/PARCEL ID

7269-010-037

ASK ABOUT THIS PROPERTY

Jon SwireThe AgencyMore Info
310-948-2631

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Jon SwireThe AgencyMore Info
310-948-2631

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.