1716 Locust Avenue Long Beach, CA ^$ 1,800,000

1716 Locust Avenue

^$ 1,800,000

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1716 Locust Avenue

Long Beach, CA, 90813

^$ 1,800,000

Studio Baths0.0 Sq 4,432

Monthly Estimate*

^$ 12,574

1716 Locust Avenue, Long Beach, CA 90813 - Image 1

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Studio

Multi-Family Home for sale in Long Beach, CA

for $1,800,000. This 4,432 square foot home was built in 1963 on a lot size of 0.14.

Introducing 1716 Locust Avenue, an investment opportunity in the heart of Long Beach, California (90813). This cash-flowing gem has been maintained by current ownership since 2015. The subject property comprises Eight units, featuring a well-balanced mix of two 1-bedroom/1-bathroom units and six 2-bedroom/1-bathroom units. If your looking for a strong cash flow on day 1 with a potential 16% more upside, then look no further. This prime investment opportunity not only offers a stable income stream with a gross income of $166,920 and a solid net income of $109,175 annually but also addresses Long Beach's parking challenges. With an on-site parking, this property provides a valuable solution to the city's parking constraints. Don't miss the chance to acquire a premium property in the thriving Long Beach market, poised for both immediate returns and long-term value.

Multi-Family Active

Price

^$ 1,800,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

^$ 0

Style

Lot Size

0.14

Year Built

1963

Town/City

Long Beach

County/Region

Los Angeles

MLS | Web ID

0024371337

Features

General

Heating Wall Furnace

Possession Close of Escrow

Zoning LBPD29

Pool Features Private

Year Built 1963

Levels Two

County Los Angeles

Net Operating Income 109175.0

New Construction No

Property Type C

HOA / Comm Assn No

Status Active

City Long Beach

Buyer Agent Compensation 2.00

Senior Community Y/N No

MLS Area 4 - Downtown Area Alamitos Beach

Lot Size Square Feet 6146.0

Street Name Locust

Standard Status Active

Buyer Agent Compensation Type %

Exterior

Lot Size Area 6146.0

Foundation Details None

Building Area Total 4432.0

Lot Size Acres 0.14

Lot Size Units Square Feet

Land Lease Type Fee

Interior

Total Stories 2

Air Conditioning Y/N No

Heating Y/N Yes

Street Suffix Avenue

Total Baths 0

* Excluded Features

List By

John McCann

Listing Agent

Lyon Stahl Investment Real Estate, Inc.

Broker

Affordability Calculator

$12,574

Per Month

Monthly Principal & Interest: $12,574
Monthly Property Taxes: --
Monthly Home Insurance: --

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Interest Rate

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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

Multi-family listings in Long Beach, CA

Average List Price ^$2,088,876

Percent of Sale Price 16%

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
3/22/2024	$1,800,000		Listed Price

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1716 Locust Avenue, Long Beach, CA, 90813 is a Multi-Family Home for sale at $1,800,000 with 4,432 sqft and a lot size of 0.14. 1716 Locust Avenue is a studio with 0.0 baths and was built in 1963. The property's zip code is 90813 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 3/29/2024. 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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1716 Locust Avenue

Multi-Family Home for sale in Long Beach, CA

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