1025 Locust Ave

Long Beach CA 90813

5498 sq. ft.

7356 sq. ft.

Other

Currently for sale - view listing

Overview

Attention ALL Multi-Family Investors! We are proud to offer this once in a lifetime 8-Unit Downtown Trophy Asset approximately 1 mile to the Beach, Pier and everything wonderful about Long Beach. NO CITYWIDE RENT CONTROL offers savvy landlords countless flexibility. Ideal Location! Location! Location within city?s fast-growing Opportunity Zone is walking distance to Historic Pine Ave, 4th Street?s Retro-Row, restaurants, bike trails, schools, churches, dog park, grocery store and less than 200 ft to Metro A line train station. 1025 Locust is a picturesque 1920s building, featuring all the qualities and characteristics of classic 20th century architecture ? boasting magnificent woodwork, built-in cabinetry, high ceilings, crown moldings, expansive floor plans with an abundance of natural light and great curb appeal. ?Pride of Ownership? is evident. Recent upgrades include remodeled kitchens and bathrooms, refurbished hardwood flooring, new quartz or granite countertops, new wood plank vinyl flooring, 44 new windows installed in 2021, new fixtures, custom two-tone paint and AC window cooling. All units are much larger than most nearby apartments. The oversized 3-room studios include galley style kitchens with counter to ceiling cabinets, walk-in closets and the extremely large 1 bedrooms offer full-size kitchens, walk-in showers, bathtubs and a service porch. Additional investor notables: spacious backyard area and four garages offer great duplex ADU building potential; new statewide density and parking requirements for multi-units near mass transit offers similar development upside as 97-unit 1112 Locust apartment building; improve best use of 5, 498 sq. ft building space to double current bedroom count or increase income immediately with fully furnished apartments similar to current AirBnB Apt. #6. Don?t miss this rare opportunity to own a turnkey Cash Cow and a legacy of authentic history while taking full advantage of endless income growth. Seller MOTIVATED

Features

4 carspaces

4 garage spaces

5498 sq. ft. floor area

7356 sq. ft. lot size

Other

Property history for 1025 Locust Ave

2017

Sold

$1,230,000

05 Sep 2017 by Craig Marson, of COLDWELL BANKER COMMERCIAL

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