Long Beach, CA 90813,1716 Locust AVE
Long Beach, CA 90813,1716 Locust AVE
Long Beach, CA 90813,1716 Locust AVE
Long Beach, CA 90813,1716 Locust AVE
Long Beach, CA 90813,1716 Locust AVE
Long Beach, CA 90813,1716 Locust AVE
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$ 1,725,000
Est. payment | /mo

14 Beds

8 Baths

4,432 SqFt


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$ 1,725,000
Est. payment | /mo
Save

14 Beds

8 Baths

4,432 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,432 sqft

Price per Sqft $389

MLS Listing ID 24468909

Bedrooms 14

HOA Y/N No

Year Built 1963

Lot Size 6,146 Sqft

Property Description

Nestled in the heart of Long Beach, this eight-unit residential property at 1716 Locust Avenue presents an attractive investment prospect. Strategically positioned just south of PCH, with easy access to both Long Beach Blvd and Pacific Avenue, the property offers convenience and desirability to potential tenants. Built in 1963, the building spans 4,432 square feet on a generously sized 6,144 square foot lot. Comprising a mix of six 2-bedroom/1-bathroom units and two 1-bedroom/1-bathroom units, this property showcases a diverse range of living spaces to accommodate various tenant needs. With a solid rental history, the property consistently generates $14,823 per month and $177,876 annually in rental income. Listed for sale at $1,725,000, the property presents an attractive investment opportunity, boasting nearly a 7% cap rate and a 9.70 Gross Rent Multiplier (GRM). With its combination of location, rental income, and investment potential, this property stands as a promising opportunity for investors seeking to expand their real estate portfolio in Long Beach.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Zoning LBPD29

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Exterior

Parking Features Driveway

Total Parking Spaces 4

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7269019035

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by John McCann • Lyon Stahl Investment Real Estate, Inc.
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1716 Locust AVE