1025 Locust Avenue
Long Beach, CA, 90813
$2,000,000
Beds
0 Baths
SqFt
0.17 Acres
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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&#39's wonderful about Long Beach. NO CITYWIDE RENT CONTROL offers savvy landlords countless flexibility. Ideal Location! Location! Located within city’s fast-growing Opportunity Zone, walking distance to Historic Pine Ave, 4th Street’s 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 interior 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. Recent exterior upgrades include: New common area plank flooring, New landscaping, exterior paint and trim, new garage/auto door, and concrete driveway. 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. Don’t 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!!

Property Details

Price:
$2,000,000
MLS #:
PW24230683
Status:
Active
Baths:
0
Address:
1025 Locust Avenue
Type:
Residential Income
Subtype:
Commercial/Residential
Subdivision:
Downtown DT
Neighborhood:
4downtownareaalamitosbeach
City:
Long Beach
Listed Date:
Nov 9, 2024
State:
CA
ZIP:
90813
Lot Size:
7,356 sqft / 0.17 acres (approx)
Year Built:
1923
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Interior

Appliances
Gas Oven, Gas Range, Gas Cooktop, Microwave, Refrigerator
Cooling
Wall/ Window Unit(s)
Fireplace Features
Family Room
Flooring
Carpet, Tile, Vinyl, Wood
Heating
Wall Furnace
Interior Features
Ceiling Fan(s), Crown Molding, Recessed Lighting
Window Features
Double Pane Windows

Exterior

Community Features
Biking, Curbs, Golf, Gutters, Park, Watersports, Sidewalks, Street Lights, Suburban
Fencing
Wood
Foundation Details
Raised
Garage Spaces
4.00
Lot Features
Back Yard, Rectangular Lot, Walkstreet, Yard
Parking Spots
4.00
Pool Features
None
Roof
Composition, Flat
Security Features
Carbon Monoxide Detector(s), Smoke Detector(s)
Sewer
Public Sewer
Stories Total
2
View
Neighborhood
Water Source
Public

Financial

Utilities
Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

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Community

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1025 Locust Avenue
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