Samimi CRE Advisors
    Listings/1922 Locust Ave
    1922 Locust Ave - Photo 1
    multifamilyActive Listing

    1922 Locust Ave

    Long Beach, CA 90806

    Valuation

    $1,700,000

    Key Specifications

    Total Units

    8

    multifamily

    Year Built

    1946

    Heritage Asset

    Interior

    4,732 SF

    $359 / SF

    Lot Area

    4,500 SF

    Unit Mix

    multifamily

    8x 1-Bed/1-Bath

    Investment Highlights

    Current 7.32% Cap Rate and 9.52 GRM
    Priced at only $212,500/Unit
    Comprised of (8) 1Bed+1Bath units
    5 units remodeled; three units are vacant and rent-ready
    Perfect opportunity for any investor looking for a low-basis deal with great cash flow

    Property Overview

    1922 Locust Avenue is an 8-unit apartment building located in the South Wrigley submarket of Long Beach, offered at $1,700,000, which translates to just $212,500 per unit. This investment presents a compelling blend of immediate cash flow and long-term appreciation potential within a rapidly developing market. The property currently boasts a 7.32% Cap Rate and a 9.52 GRM, indicating strong financial performance. The property consists of eight 1-Bed/1-Bath units, with five of these units recently undergoing remodeling. Three units are currently vacant and ready for immediate occupancy, providing an excellent opportunity for an owner-user or investor to quickly add value and maximize rental income. This asset is strategically positioned to capitalize on the ongoing growth and investment in the Long Beach area. Situated just outside the vibrant Downtown Long Beach core, 1922 Locust Ave is poised to benefit from over $6 billion in local investment. This includes major transformational projects such as the Long Beach Civic Center, Queen Mary Island, CSULB Downtown Village, Broadway Block, and the Ocean Aire Development, all contributing to the area's revitalization and increasing property values.