2018 Locust Ave - Apartments FOR SALE


Long Beach, CA 90806- Wrigley
$2,900,000 USD
310-948-2631
2018 Locust Ave, Long Beach, CA for Sale
$2,900,000 USD
Apartments - FOR SALE
1/9
null | 4.9% Cap Rate

2018 Locust Ave
Long Beach, CA 90806
Wrigley


HIGHLIGHTS

  • Only $249/SF.
  • Over 20% Rental Upside - Excellent Value Add Opportunity.
  • Excellent unit mix on a quiet tree lined street.
  • EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.

OVERVIEW

Huge Value Add Opportunity - 20%+ rental upside. PRICED TO SELL - ONLY $249/SF. 13 units located in the Wrigley area of Long Beach subject to AB 1482 Rent Control (5% + CPI increases). Excellent unit mix for the area with onsite laundry and parking. Property features 3 open parking spaces in the rear as well as 4 garages. There are also 2 covered garages in the front - possible ADU conversion - buyer to verify. Each unit also features its own private balcony space. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.

FOR SALE DETAILS

PRICE

$2,900,000 USD

PRICE/SF

$249 USD /SF

# OF UNITS

13

PRICE/UNIT

$223,077

CAP RATE

4.9%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

12,955 SF

ZONING

R3

APN/PARCEL ID

7209-013-029

ASK ABOUT THIS PROPERTY

Jon SwireThe AgencyMore Info
310-948-2631

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Jon SwireThe AgencyMore Info
310-948-2631

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.