Long Beach, CA 90806 1922 Locust Avenue
$1,700,000
21 more
Presented By: Ryan Versfelt with Lyon Stahl Investment Real Estate, Inc.; 310-748-1445
Beds • 8
Baths • 8
SQFT • 4,732
Year Built • 1946
Home Details
7.32% Cap Rate and a 9.52 GRM, 1922 Locust Ave, is an 8-unit apartment building located in the South Wrigley submarket of Long Beach. Priced at just $212k/unit, this investment offers a compelling mix of immediate cash flow and long-term upside in a rapidly developing market. The property is comprised of (8) 1-Bed/1-Bath units, with five recently remodeled. Three units are currently vacant and rent-ready, offering the perfect
opportunity for an owner-user or investor to quickly add value. Situated just outside the booming Downtown Long Beach core, 1922 Locust Ave is primed to benefit from over $6 Billion in local investment, including transformational projects like the Long Beach Civic Center, Queen Mary Island, CSULB Downtown Village, Broadway Block, and the Ocean Aire Development. No local rent control - subject to AB-1482 CA Statewide rent control, which allows 5%+CPI rental increases.
Presented By: Ryan Versfelt with Lyon Stahl Investment Real Estate, Inc.; 310-748-1445
Interior Features for 1922 Locust Avenue
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesSeeRemarks
Total Stories2
Other Rooms
Entry Level1
General for 1922 Locust Avenue
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate7.32
Carport Y/NNo
CityLong Beach
Community FeaturesUrban
CountyLos Angeles
DirectionsOff of Pacific Coast Highway and Long Beach Blvd
Electric Expense0.0
Electric On Property Y/NNo
Entry Location1
Fuel Expense0.0
Garage Spaces0.0
Garage Y/NNo
Gross Income178524.0
HOANo
Home Warranty Y/NNo
Insurance Expense0.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashToNewLoan, Conventional, Exchange1031
Lot Size Square Feet4500.0
Lot Size UnitsSquareFeet
MLS Area699 - Not Defined
MobileHomeRemainsYNNo
Net Operating Income124437.0
New ConstructionNo
Number Of Units Total8
Number of Units Leased7
Operating Expense48731.0
Pool FeaturesNone
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Tax Lot19
Trash Expense0.0
Water Sewer Expense0.0
Year Built1946
Year Built SourceAssessor
ZoningLBPD29
Exterior for 1922 Locust Avenue
Building Area Total4732.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesZeroToOneUnitAcre
Lot Size Acres0.1033
Lot Size Area4500.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters8
Number of Separate Gas Meters8
Number of Separate Water Meters1
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking0.0
Water SourcePublic
WaterfrontY/NNo
Additional Details
Price History
Justin Hughey
Price
$1,700,000
MLS#SB25107697
List Date
05/14/2025
Property Type
Multi-Family
Phone
(562) 818-1655
