Closed | Beautiful, Cash Flowing 4-Plex in Long Beach
Cameron Samimi of Lyon Stahl is pleased to have closed 2115 Locust Ave, a beautiful, cash flowing 4-plex located in South Wrigley (Long Beach).
Sold for $1,175,000
The asset is a great owner/user opportunity with a house in the front and (3) units in the back.
Locust Ave. has a very strong unit mix, being comprised of (1) 3-Bedroom/2 Bath, (2) 2-bedroom/1-bath, & (1) 1-Bedroom/1-bath units.
A very rare commodity in Long Beach, the property has (5) garages on site conveniently located for all tenants, as well as an opportunity for extra income for owners.
This massive 4-plex accounts for 4,158 Sq.Ft, and sits on a 6,245 Sq.Ft lot. Current rental income allows the property to operate just below a 4.5% Cap and 14 GRM. 2115 Locust is also separately metered for gas and electricity.
With $6B in development flowing into the city, Long Beach has continued to rise as a top beach community. This is a perfect opportunity for any buyer looking to own a cash-flowing asset with upside.
For More Information on Property:
For Future Listings, Contact:
Cameron Samimi: [email protected]