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2065 Locust Ave, Long Beach, CA 90806

2065 Locust Ave, Long Beach, CA 90806
$1,250,000

Description

Perfect Owner Occupied opportunity! 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 counter tops, 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.

  • City: Long Beach
  • State/county: CA
  • Country: United States

Detail

Updated on July 22, 2020 at 7:30 am

  • Price: $1,250,000
  • List Date: 7/21/2020
  • Property Size: 3,376 Sq Ft
  • Land Area: 7,481 Sq Ft
  • Year Built: 1940
  • Property Type: Multifamily
  • Property Status: Active
  • Numbers of Units: 4
  • NOI: $65,692
  • Price per Unit: $312,500

Contact info

Cameron Samimi
Cameron Samimi
(310) 880-3855 (310) 259-7556
Linkedin

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