1025 Locust Avenue, Long Beach, CA 90813
  • MLS#: PW24230683 ( Commercial/Residential )
  • Street Address: 1025 Locust Avenue
  • Viewed: 1
  • Price: $2,000,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1920
  • Bldg sqft: 0
  • Days On Market: 6
  • Additional Information
  • County: LOS ANGELES
  • City: Long Beach
  • Zipcode: 90813
  • Subdivision: Downtown (dt)
  • Provided by: Kinnery's Brokerage House
  • Contact: Cameron Cameron
  • California Regional MLS IDX
  • DMCA Notice
  • 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 citys fast growing Opportunity Zone, walking distance to Historic Pine Ave, 4th Streets 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. Dont 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!!
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Features
Appliances
  1. Gas Oven
  2. Gas Range
  3. Gas Cooktop
  4. Microwave
  5. Refrigerator
Architectural Style
  1. Cape Cod
Assessments
  1. None
Building Area Total
  1. 5498.00
Commoninterest
  1. Community Apartment
Common Walls
  1. No Common Walls
Cooling
  1. Wall/Window Unit(s)
Country
  1. US
Electric Expense
  1. 0.00
Fencing
  1. Wood
Fireplace Features
  1. Family Room
Flooring
  1. Carpet
  2. Tile
  3. Vinyl
  4. Wood
Foundation Details
  1. Raised
Fuel Expense
  1. 0.00
Garage Spaces
  1. 4.00
Heating
  1. Wall Furnace
Insurance Expense
  1. 0.00
Interior Features
  1. Ceiling Fan(s)
  2. Crown Molding
  3. Recessed Lighting
Laundry Features
  1. None
Lockboxtype
  1. None
Lot Dimensions Source
  1. Assessor
Lot Features
  1. Back Yard
  2. Rectangular Lot
  3. Walkstreet
  4. Yard
Netoperatingincome
  1. 112900.00
Parcel Number
  1. 7273006014
Pool Features
  1. None
Postalcodeplus4
  1. 3260
Professionalmanagementexpense
  1. 0.00
Property Type
  1. Commercial/Residential
Property Condition
  1. Updated/Remodeled
Road Frontage Type
  1. City Street
Road Surface Type
  1. Paved
Roof
  1. Composition
  2. Flat
Security Features
  1. Carbon Monoxide Detector(s)
  2. Smoke Detector(s)
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 426922327:CRM
Subdivision Name Other
  1. Downtown (DT)
Totalexpenses
  1. 57773.00
Trash Expense
  1. 0.00
Utilities
  1. Electricity Connected
  2. Natural Gas Connected
  3. Sewer Connected
  4. Water Connected
Vacancyallowance
  1. 3483
View
  1. Neighborhood
Water Sewer Expense
  1. 0.00
Water Source
  1. Public
Window Features
  1. Double Pane Windows
Year Built
  1. 1920
Year Built Source
  1. Assessor
Zoning
  1. LBR4N