Long Beach, CA 90806,2065 Locust AVE
Long Beach, CA 90806,2065 Locust AVE
Long Beach, CA 90806,2065 Locust AVE
16
$1,212,000
$1,225,000
1.1%
Est.Price: ?

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7,479 Sqft Lot

2065 Locust AVE Long Beach, CA 90806

Est. payment /mo
SOLD DATE : 11/09/2020

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Key Details

Sold Price $1,212,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Subdivision Wrigley Area (Wr)

MLS Listing ID SB20144327

Year Built 1940

Lot Size 7,479 Sqft

Property Description

All Tenants are currently paying!
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 5.39% Cap and 13.04 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.

Location

State CA

County Los Angeles

Area 5 - Wrigley Area

Zoning LBR3T

Interior

Heating Floor Furnace

Laundry None

Exterior

Garage Spaces 5.0

Garage Description 5.0

Pool None

Community Features Urban

Building

Lot Description 0-1 Unit/Acre

Story 1

Sewer Public Sewer

Water Public

New Construction No

Others

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc.
Bought with Cody Charnell • Buckingham Investments

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Todd Kingsley

Agent | License ID: 02118744

+1(310) 710-8633

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