1885-1887 Locust Ave - Apartments FOR SALE


Long Beach, CA 90806- Wrigley
$2,630,000 USD
424-220-8960
1885-1887 Locust Ave, Long Beach, CA for Sale
$2,630,000 USD
Apartments - FOR SALE
1/8
null | 6.13% Cap Rate

1885-1887 Locust Ave
Long Beach, CA 90806
Wrigley


OVERVIEW

EMAIL LISTING AGENT FOR THE OFFERING MEMORANDUM. High-Yield Asset – Offered at a 6.13% cap rate with approximately 10% potential upside in net operating income. Diverse Unit Mix – (10) 1+1, (2) 2+1, and (1) 2+2 townhouse style unit catering to a broad tenant base of workforce renters, young professionals, and small households. Attractive Basis – Offered at $202,308 per unit and $318.25/SF, representing a significant discount to replacement cost. Ideal for 1031 Exchange Buyers – Offers stable in-place cash flow with rental upside, appealing to investors exiting more restrictive Los Angeles rent-controlled assets Recent Capital Improvements – Exterior recently painted, main electrical panel replaced, water heater upgraded, and SB 721 compliance completed, reducing near-term capital expenditure risk Downtown Growth & Housing Demand – Downtown Long Beach has seen substantial new residential development delivered in recent years, with thousands of additional units approved or under construction, underscoring strong housing demand, rent growth, and continued urban revitalization.

FOR SALE DETAILS

PRICE

$2,630,000 USD

PRICE/SF

$318 USD /SF

# OF UNITS

13

PRICE/UNIT

$202,308

CAP RATE

6.13%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1952

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,756 SF

ZONING

R4

APN/PARCEL ID

7209-017-035

ASK ABOUT THIS PROPERTY

Chris van VuurenLyon Stahl Investment Real EstateMore Info
424-220-8960

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Chris van VuurenLyon Stahl Investment Real EstateMore Info
424-220-8960

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