1880 Locust Avenue, Long Beach, CA 90806

About this commercial property

This is a well maintained and income producing 12 unit complex in an easy to rent neighborhood in Long Beach
 - Unit Mix: Eight 2 bed / 2 baths and Four 1 bed / 1 bath 
 - 2 bedroom / 2 bath units are approximately 850 SF.
 - 1 bedroom / 1 bath units are approximately 625 SF
 - All units have a balcony. All decks have been redone or resurfaced and all walkway decks were redone in 2014.
 - Spacious units with a combination of carpet, vinyl plank and ceramic floors. 
 - Most units are prepped for a dishwasher 
 - Property is located in a highly desirable rental demand area of Long beach
 - Flat portion of the Roof was replaced in 2012 with a 7 year warranty. Pitched roof was not included in the re-roof.
 - Landlord pays for monthly garbage and water fee. 
 - Individual gas and electric meters for each unit 
 - All units have an assigned parking space 
 - Additional income: laundry and three enclosed garages and one storage room producing $485 / month 
 - Current Cap Rate is well over 6% (per owner) are based on Actual numbers, which are below market rent
 - Rents have not been raised for a long time on a few units
 - Easy Commute. About 2 blocks to Metro station
 
 Please see Supplemental PDF file under the photo

Listing description from the December 2015 sale, as reported to CRMLS.

Sale history

$1,716,375

Sold December 2015 · listed $1,649,000, on market June 2015 · MLS #SB15125613 · Source: CRMLS

Listing Agent: Mohammad Sharifi · Listing Office: Shorewood Realtors · Contact: 310-746-5400 · Bought with: Robert Stepp · Keller Williams Pacific Estate

$1,716,375

Sold December 2015 · listed $1,649,000, on market June 2015 · MLS #SB15127547 · Source: CRMLS

Listing Agent: Mohammad Sharifi · Listing Office: Shorewood Realtors · Contact: 310-746-5400 · Bought with: Robert Stepp · Keller Williams Pacific Estate

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