2073 Locust Avenue A, Long Beach, CA 90806

About this property

PRICED TO SELL. 9.9 GRM AND 6.4% CAP with upside to a 7.1% CAP. 8 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI. Only $290/SF. Located in the quiet residential Wrigley area, the property is professionally managed and well-maintained. Onsite laundry room. There are 5 garages in the rear, each could rent for as much as $125/garage. The Electrical Main Panel is 200 AMPS (Siemens) and the Subpanels are 50 AMPS (Siemens) - Buyer to verify. The seller spent over $175K at the time of purchase on new exterior paint, landscaping, and interior updates to units including new kitchen countertops, vinyl flooring and paint. Email Listing Agent for more info including a Rent Roll and actual expenses.

Listing description from the August 2024 sale, as reported to CRMLS.

Sale history

$1,745,000

Sold August 2024 · listed $1,729,000, on market June 2024 · MLS #24403303 · Source: CRMLS

Listing Agent: Jonathan Swire · Listing Office: The Agency · Contact: 424-230-3700 · Bought with: Ryan Pratt · Skyline Commercial Real Estate

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