2018 Locust Avenue Active

Long Beach,CA 90806

$ 2799000

- Bed

0 Bath

11626 SqFt


Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 11,626 sqft

Price per Sqft $240

MLS Listing ID CL25493741

Year Built 1963

Lot Size 0.297 Acres

Property Sub-Type Other

Property Description

$100K PRICE REDUCTION - SELLER IS MOTIVATED. PRICED TO SELL - ONLY $241/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. 10.8 GRM on current rents with upside to 8.9 GRM and 7.4% CAP with all units at market rent. 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 it's own private balcony space. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.

Location

State CA

County Los Angeles

Zoning LBPD

Interior

Heating Wall Furnace

Cooling None

Building

New Construction No

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