945 Locust Avenue, Long Beach, CA 90813

About this property

945 Locust Avenue is a 16-unit apartment property in Long Beach, California, adjacent to the vibrant East Village Arts District and Downtown. The controlled-access, all-electric, separately-metered building features two (2) 2BD / 2 BA units and fourteen (14) 2BD / 1 BA units. Seven (7) of the units are fully remodeled with new flooring, kitchens, stainless steel appliances, new bathrooms and modern fixtures and finishes. Double-pane windows are installed throughout the building for additional energy efficiency. An onsite laundry / storage room can provide extra income, and the eight (8) garages offer the opportunity for ADU conversion for additional rental income. 945 Locust Avenue is priced at 11.73 GRM and 5.39% cap rate at current rents.

Listing description from the November 2023 sale, as reported to CRMLS.

Sale history

$3,900,000

Sold November 2023 · listed $4,150,000, on market August 2023 · MLS #PW23149053 · Source: CRMLS

Listing Agent: Robert Stepp · Listing Office: Keller Williams - Santa Monica · Contact: 310-482-2200 · Bought with: Robert Stepp · Keller Williams - Santa Monica

$3,525,000

Sold May 2017 · listed $3,750,000, on market March 2017 · MLS #PW17067228 · Source: CRMLS

Listing Agent: Robert Stepp · Listing Office: Keller Williams Pacific Estate · Contact: 562-513-7800 · Bought with: Robert Stepp · Keller Williams Pacific Estate

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