Current Listing | Renovated, Major Cash Cow 4-Plex in Long Beach
Cameron Samimi of Lyon Stahl is pleased to present 2065 Locust Ave, a perfect owner occupied opportunity in Long Beach.
This property is listed for $1,225,000.
Renovated, Major Cash Cow 4-plex at 2065 Locust Ave., Long Beach. One of the highest available Cap Rates on the market, this South Wrigley asset is perfect for anyone looking for immediate cash flow and low maintenance.
On current rental income, the property operates at an incredible 5.26% Cap and 13.31 GRM.
Locust Ave. has an incredibly strong unit mix, being comprised of (3) 2-bedroom/1-bath & (1) 5-bedroom/2-bath units. One 2 bedroom/1 bath unit can be delivered vacant at close of escrow.
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.
. Renovations to the property include granite countertops, stainless steel appliances, new bathrooms/floors, and a full copper re-pipe. Locust was also re-stuccoed and has new interior/exterior paint.
The property is also separately metered for gas and electric. 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 to own a cash-flowing asset in one of Southern California’s last affordable beach communities.
For More Information on this Property:
For More Information, Contact:
Cameron Samimi: [email protected]