Long Beach, CA 90813 1640 Locust Avenue
$1,875,000
7 more
Presented By: Aaron Soliz with eXp Realty of Greater L.A; 562-201-3612
Beds • 25
Baths • 8
SQFT • 6,295
Year Built • 1924
Home Details
This property has assumable financing at a great rate, value add, low rents, large unit mix, performing tenants, and a motivated seller who is open to carry the loan/seller finance the deal. Furthermore, is not contingent upon finding a replacement property. That is the difference from what you see on the market today. The OM is available for review to understand the deal and numbers.
Presented By: Aaron Soliz with eXp Realty of Greater L.A; 562-201-3612
Interior Features for 1640 Locust Avenue
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesNone
Total Stories2
Other Rooms
Entry Level1
General for 1640 Locust Avenue
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate6.42
Carport Y/NNo
CityLong Beach
Community FeaturesStormDrains, StreetLights, Sidewalks
CountyLos Angeles
Current FinancingAssumable
DirectionsTurn Left on Locust Ave
Electric On Property Y/NNo
Entry Location1
Garage Spaces0.0
Garage Y/NNo
Gross Income14088.0
HOANo
HOA Fee$0.0
Home Warranty Y/NNo
Insurance Expense0.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashToExistingLoan, CashToNewLoan, Conventional, Exchange1031, OwnerWillCarry, OwnerMayCarry
Lot Size Square Feet7423.0
Lot Size UnitsSquareFeet
MLS Area7 - North Long Beach
MobileHomeRemainsYNNo
Net Operating Income125235.5
New ConstructionNo
Number Of Units Total7
Operating Expense0.0
Pool FeaturesNone
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Subdivision NameNorth Long Beach (NLB)
Tax Lot14
Tenant PaysSeeRemarks
Trash Expense0.0
Year Built1924
Year Built SourceAssessor
ZoningLBPD29
Exterior for 1640 Locust Avenue
Building Area Total6295.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesSixToTenUnitsAcre
Lot Size Acres0.1704
Lot Size Area7423.0
Lot Size SourceAssessor
Number of Buildings4
Number of Separate Electric Meters7
Number of Separate Gas Meters7
Number of Separate Water Meters7
Open Parking Y/NNo
Parking FeaturesNone
Private PoolNo
SpaNo
Total Parking0.0
Water SourcePublic
WaterfrontY/NNo
Additional Details
Price History
Justin Hughey
Price
$1,875,000
MLS#DW25065291
List Date
03/25/2025
Property Type
Multi-Family
Phone
(562) 818-1655
