1716 Locust Avenue, Long Beach, CA 90813
-
Listed Price :
$1,725,000
-
Beds :
14
-
Baths :
8
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Property Size :
4,432 sqft
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Year Built :
1963
Property Description
Nestled in the heart of Long Beach, this eight-unit residential property at 1716 Locust Avenue presents an attractive investment prospect. Strategically positioned just south of PCH, with easy access to both Long Beach Blvd and Pacific Avenue, the property offers convenience and desirability to potential tenants. Built in 1963, the building spans 4,432 square feet on a generously sized 6,144 square foot lot. Comprising a mix of six 2-bedroom/1-bathroom units and two 1-bedroom/1-bathroom units, this property showcases a diverse range of living spaces to accommodate various tenant needs. With a solid rental history, the property consistently generates $14,823 per month and $177,876 annually in rental income. Listed for sale at $1,725,000, the property presents an attractive investment opportunity, boasting nearly a 7% cap rate and a 9.70 Gross Rent Multiplier (GRM). With its combination of location, rental income, and investment potential, this property stands as a promising opportunity for investors seeking to expand their real estate portfolio in Long Beach.
Interior Features
| Bedroom Information |
| Bedrooms |
14 |
| Bathroom Information |
| Bathrooms |
8 |
| Interior Information |
| Cooling Type |
Wall/Window Unit(s) |
Listing Information
| Address |
1716 Locust Avenue |
| City |
Long Beach |
| State |
CA |
| Zip |
90813 |
| County |
Los Angeles |
| Listing Agent |
John McCann DRE #01963932 |
| Courtesy Of |
Lyon Stahl Investment Real Estate, Inc. |
| List Price |
$1,725,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
4,432 |
| Lot Size |
6,146 |
| Year Built |
1963 |
Listing information courtesy of: John McCann, Lyon Stahl Investment Real Estate, Inc.. *Based on information from the Association of REALTORS/Multiple Listing as of Feb 11th, 2025 at 1:29 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
