1025 Locust Avenue

Long Beach, CA 90813

$2,000,000

List Price

N/A

bed Beds

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shower Baths

N/A sqft

straighten / sqft

1920

calendar_month Built

Property Description

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 that's wonderful about Long Beach. NO CITYWIDE RENT CONTROL offers savvy landlords countless flexibility. Ideal Location! Location! Located within city’s fast-growing Opportunity Zone, walking distance to Historic Pine Ave, 4th Street’s Retro-Row, restaurants, bike trails, schools, churches, dog park, grocery store and approximately 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/granite countertops, new wood plank vinyl flooring, 44 new windows installed in 2021, new fixtures, custom two-tone paint and AC window cooling. The units are much larger than many of the nearby apartment units. 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!!

Listing Information

List Price $2,000,000
Status Active
MLS PW24230683
Type Residential Income
Subtype Mixed Use
Year Built 1920
Lot Size 7,356
Structure Size N/A
Courtesy Of Kinnery's Brokerage House
Listing Agent Cameron Jacques DRE#01852032

Interior Features

Laundry Information
Location(s) None
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Flooring Information
Material Carpet, Tile, Vinyl, Wood
Fireplace Information
Features Family Room
Additional Information
Additional Features Ceiling Fan(s), Crown Molding, Recessed Lighting
Cooling Type
Cooling Type Wall/Window Unit(s)

Exterior Information

Maps

Listing information courtesy of: Cameron Jacques, Kinnery's Brokerage House . *Based on information from the Association of REALTORS/Multiple Listing as of Nov 11th, 2024 at 10:13 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.