2018 Locust Avenue Long Beach, CA ^$ 3,350,000

2018 Locust Avenue

^$ 3,350,000

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2018 Locust Avenue

Long Beach, CA, 90806

^$ 3,350,000

Studio Baths0.0

Monthly Estimate*

^$ 23,401

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Studio

Commercial Property for sale in Long Beach, CA

for $3,350,000. This building was built in 1963.

Welcome to an exceptional investment opportunity in the heart of Long Beach, California! Presenting a well-maintained multi-family building with 13 apartments, this property is a prime addition to any discerning investor's portfolio. Current rents are below market rents, and have potential for increase. As opposed to most multi-family properties in Long Beach, the apartment size of 900 Sqft. each and 2 units of 1,100 & 1,400 sqft, because of the size of each unit (900 sqft), investors can change the units from 1 bedroom to 2 bedrooms, and increase the rent. make the units very spacious and desirable. Situated just off Long Beach Blvd. and 20th Street, this multi-family building enjoys proximity to convenient city amenities, renowned beaches, and convenient access to major thoroughfares. With potential rent increase, this property offers a very lucrative income, making it a very savvy investment. New roof installed in 2019 as well as a new sewer line.

Commercial Active

Price

^$ 3,350,000

Bedrooms

Studio

Property Type

Commercial

Taxes

^$ 0

Style

Year Built

1963

Town/City

Long Beach

County/Region

Los Angeles

MLS | Web ID

0024353885

Features

General

Zoning LBPD29

Security Features Carbon Monoxide Detector(s) Gated Community Fire Sprinkler System Fire and Smoke Detection System

Construction Materials Stucco

Year Built 1963

Electric Standard

County Los Angeles

Net Operating Income 92725.0

Property Type F

Status Active

City Long Beach

MLS Area 5 - Wrigley Area

Lot Size Square Feet 0.0

Street Name Locust

Standard Status Active

Exterior

Lot Size Area 12958.0

Lot Size Acres 0.0

Land Lease Type Fee

Interior

Total Stories 2

Air Conditioning Y/N Yes

Heating Y/N Yes

Street Suffix Avenue

Laundry Features Laundry Equipment Own Lease

Total Baths 0

* Excluded Features

List By

David Crispel

Listing Agent

Premier Realty Associates

Broker

Affordability Calculator

$23,401

Per Month

Monthly Principal & Interest: $23,401
Monthly Property Taxes: --
Monthly Home Insurance: --

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Yearly Home Insurance

Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Commerical listings in Long Beach, CA

Average List Price ^$1,472,555

Percent of Sale Price 56%

About Long Beach, CA

470,090 Population

2% Since 2002

^$57,916 Median Income

35.78 Median Age

30% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

793437 Elementary School

793428 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
2/5/2024	$3,350,000		Listed Price

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2018 Locust Avenue, Long Beach, CA, 90806 is a Commercial Property for sale at $3,350,000. 2018 Locust Avenue is a studio with 0.0 baths and was built in 1963. The property's zip code is 90806 which is in Long Beach, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the California Desert Association of Realtors.

Based on information from the California Desert Association of REALTORS® as of 3/5/2024. 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.

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the California Desert Association of Realtors. Real Estate listings held by brokerage firms (licensees) other than Weichert Realtors include the name of the listing brokers.

The information being provided is for consumers' personal, non-commercial use and may not be reproduced or redistributed. Its sole purpose is to be used to identify prospective properties consumers may be interested in purchasing.

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2018 Locust Avenue

Commercial Property for sale in Long Beach, CA

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