2018 Locust Avenue Long Beach, CA ^$ 3,350,000

2018 Locust Avenue

^$ 3,350,000

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2018 Locust Avenue

Long Beach, CA, 90806

^$ 3,350,000

Studio Baths0.0 Sq 11,626

Monthly Estimate*

^$ 23,401

Listed by Premier Realty Associates

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2018 Locust Avenue, Long Beach, CA 90806 - Image 6

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2018 Locust Avenue, Long Beach, CA 90806 - Image 9

2018 Locust Avenue, Long Beach, CA 90806 - Image 10

2018 Locust Avenue, Long Beach, CA 90806 - Image 11

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2018 Locust Avenue, Long Beach, CA 90806 - Image 13

2018 Locust Avenue, Long Beach, CA 90806 - Image 14

Studio

Commercial Property for sale in Long Beach, CA

for $3,350,000. This 11,626 square foot building was built in 1963 on a lot size of 0.2975.

Welcome to an exceptional investment opportunity in the heart of Long Beach, California! Presenting a well-maintained multi-family building with 13 apartments, this property is a prime addition to any discerning investor's portfolio. Current rents are below market rents, and have potential for increase. As opposed to most multi-family properties in Long Beach, the apartment size of 900 Sqft. each and 2 units of 1,100 & 1,400 sqft, because of the size of each unit (900 sqft), investors can change the units from 1 bedroom to 2 bedrooms, and increase the rent. make the units very spacious and desirable. Situated just off Long Beach Blvd. and 20th Street, this multi-family building enjoys proximity to convenient city amenities, renowned beaches, and convenient access to major thoroughfares. With potential rent increase, this property offers a very lucrative income, making it a very savvy investment. New roof installed in 2019 as well as a new sewer line.

Commercial Active

Price

^$ 3,350,000

Bedrooms

Studio

Property Type

Commercial

Taxes

^$ 0

Style

Lot Size

0.2975

Year Built

1963

Town/City

Long Beach

County/Region

Los Angeles

MLS | Web ID

24353885

Days on Market

104

Features

General

Zoning LBPD29

HOA 0.0

Security Features CarbonMonoxideDetectors FireDetectionSystem FireSprinklerSystem GatedCommunity SmokeDetectors

Construction Materials Stucco

Year Built 1963

Electric Standard

Community Features Gated

County Los Angeles

Net Operating Income 92725.0

New Construction N

Property Type CommercialSale

HOA / Comm Assn N

Attached Garage N

Possible Use MultiFamily

Garage Y/N N

Special Listing Conditions Standard

Status Active

Directions 405 fwy to Long Beach Blvd right on 20th right on Locust

City Long Beach

View Y/N N

Senior Community Y/N N

Open Parking Spaces 5.0

Total Units 13

MLS Area 5 - Wrigley Area

Lot Size Square Feet 12958.0

Private Pool N

Waterfront Y/N N

Carport Y/N N

Street Name Locust

Property Attached Y/N N

Land Lease Y/N N

Home Warranty Y/N N

Lease Renewal Y/N Y

Additional Parcels Y/N N

Lease Considered Y/N N

Rent Control Y/N N

Days on Market 34

Standard Status Active

Exterior

Total Parking 9.0

Lot Size Area 12958.0

Number of Buildings 1

Spa N

Building Area Total 11626.0

Lot Size Acres 0.2975

Lot Size Units SquareFeet

Crops Included Y/N N

Open Parking Y/N N

Horse Y/N N

Irrigation Water Rights Y/N N

Interior

Total Stories 2

Basement (Y/N) N

Air Conditioning Y/N Y

Heating Y/N Y

Fireplace Y/N N

Street Suffix Avenue

Electric On Property Y/N N

Total Baths 0

Internal Only

Street Number 1 2018

* Excluded Features

List By

Premier Realty Associates

Broker

(818) 921-0111

Phone

Affordability Calculator

$23,401

Per Month

Monthly Principal & Interest: $23,401
Monthly Property Taxes: --
Monthly Home Insurance: --

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Yearly Home Insurance

Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Commerical listings in Long Beach, CA

Average List Price ^$1,599,254

Percent of Sale Price 52%

About Long Beach, CA

470,090 Population

2% Since 2002

^$57,916 Median Income

35.78 Median Age

30% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

273443 Elementary School

272636 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
2/1/2024	$3,350,000		Listed Price

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2018 Locust Avenue, Long Beach, CA, 90806 is a Commercial Property for sale at $3,350,000 with 11,626 sqft and a lot size of 0.2975. 2018 Locust Avenue is a studio with 0.0 baths and was built in 1963. The property's zip code is 90806 which is in Long Beach, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the California Regional Multiple Listing Service, Inc..

Based on information from California Regional Multiple Listing Service, Inc. as of 5/14/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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2018 Locust Avenue

Commercial Property for sale in Long Beach, CA

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