Long Beach, CA 90813 1775 Locust Avenue
$2,270,000
3 more
Presented By: Jonathan Swire with The Agency;
Beds • 19
Baths • 9
SQFT • 7,176
Year Built • 1962
Home Details
PRICED TO SELL. 9.9 GRM and 6.3% CAP with upside to a 7.5% CAP. 9 units in Long Beach. Excellent unit mix for the area. Well-maintained and professionally managed property. Property is subject to AB 1482 Rent Control (5% + CPI increase allowed). 4 garages in the rear. On-site laundry. A number of units here are rented to Section 8 and Housing Programs - rents could easily be increased based on Payment Standards for the 90813 zip code. The 4 garages in rear could potentially be converted to ADU's - Buyer to verify. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
Presented By: Jonathan Swire with The Agency;
Interior Features for 1775 Locust Avenue
Bedrooms
Total Bedrooms19
Bathrooms
Half Baths0
Total Baths9
1/4 Baths
3/4 Baths
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Fireplace Y/NNo
Heating Y/NYes
Total Stories2
General for 1775 Locust Avenue
Additional Parcels Y/NNo
Attached Garage No
Cap Rate6.3
Carport Y/NNo
CityLong Beach
CoolingNone
CountyLos Angeles
Directions9 Units in Long Beach
Electric On Property Y/NNo
Full Baths
Garage Y/NNo
Gross Income229000.0
HOANo
HeatingWallFurnace
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Lot Size Square Feet7509.0
Lot Size UnitsSquareFeet
MLS Area4 - Downtown Area, Alamitos Beach
MobileHomeRemainsYNNo
Net Operating Income144000.0
New ConstructionNo
Number Of Units Total9
Property Attached Y/NNo
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Year Built1962
ZoningLBR4R
Exterior for 1775 Locust Avenue
Building Area Total7176.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.1724
Lot Size Area7509.0
Number of Buildings1
Open Parking Y/NNo
Parking FeaturesAssigned
Private PoolNo
SpaNo
Total Parking4.0
WaterfrontY/NNo
Additional Details
Price History
Alexandra Eston
Sales Associate
