2015 Locust Avenue, Long Beach, CA 90806
  • MLS#: SB25149560 ( Quadruplex )
  • Street Address: 2015 Locust Avenue
  • Viewed: 1
  • Price: $1,299,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1937
  • Bldg sqft: 0
  • Days On Market: 14
  • Additional Information
  • County: LOS ANGELES
  • City: Long Beach
  • Zipcode: 90806
  • Subdivision: Wrigley Area (wr)
  • Provided by: Lyon Stahl Investment Real Estate, Inc.
  • Contact: Christopher Christopher
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    We are proud to present 2015 Locust Avenue, a four unit multifamily property located in the Wrigley neighborhood of Long Beach. Just north of Downtown and minutes from the 710 and 405 freeways, Wrigley offers residents convenient access to major employment centers, Long Beach City College, and the Metro A Line light rail. The neighborhoods central location and strong rental demand make this asset ideal for investors seeking stability and long term appreciation in a growing Long Beach submarket. Situated on a 4,750 SF lot, the property offers 3,199 SF of rentable space and features a desirable unit mix of one (1) three bedroom, one bath unit; one (1) two bedroom, one bath unit; and two (2) one bedroom, one bath unitsone of which is currently vacant, providing immediate upside. Significant recent upgrades include exterior paint, new roof and gutters, garage doors, staircase rebuild, and one fully renovated unit in 2025. Additional improvements in prior years include new windows, plumbing updates, tankless water heaters, new fencing, and full or partial renovations of three other units, minimizing future capex needs for a new owner. 2015 Locust Avenue is an ideal opportunity for an investor to acquire a turnkey asset with strong in place income of $104,820 per year and clear value add potential. The vacant one bedroom unit offers immediate lease up upside, while below market rents in the occupied units present a path for long term growth. An on site laundry roomcurrently not in useoffers a simple way to add tenant convenience and generate additional monthly income. This is a well located, income producing asset poised to perform in one of Long Beachs most accessible submarkets.
Property Location and Similar Properties
Request More Information
  • All fields are required.
Contact Patrick Adams
Contacting Patrick Adams
  • All fields are required.
Schedule A Showing
Schedule a Showing.
  • All fields are required.
Features
Building Area Total
  1. 3199.00
Commoninterest
  1. Community Apartment
Common Walls
  1. No Common Walls
Country
  1. US
Garage Spaces
  1. 2.00
Insurance Expense
  1. 3199.00
Laundry Features
  1. See Remarks
Levels
  1. Two
Lot Features
  1. Rectangular Lot
Netoperatingincome
  1. 77438.00
Newtaxesexpense
  1. 16978.00
Otherexpense
  1. 1084.00
Otherexpensedescription
  1. Misc
Parcel Number
  1. 7209018030
Pool Features
  1. None
Postalcodeplus4
  1. 4783
Property Type
  1. Quadruplex
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 442286607:CRM
Subdivision Name Other
  1. Wrigley Area (WR)
Totalactualrent
  1. 8035.00
Totalexpenses
  1. 26782.00
Trash Expense
  1. 0.00
Uncovered Spaces
  1. 3.00
Water Sewer Expense
  1. 2520.00
Water Source
  1. Public
Year Built
  1. 1937
Year Built Source
  1. Assessor
Zoning
  1. LBR3T