Thank you
John Mccann
Lyon Stahl Investment Real Estate, Inc.
310-425-9838
Introducing 1716 Locust Avenue, an investment opportunity in the heart of Long Beach, California (90813). This cash-flowing gem has been maintained by current ownership since 2015. The subject property comprises Eight units, featuring a well-balanced mix of two 1-bedroom/1-bathroom units and six 2-bedroom/1-bathroom units. If your looking for a strong cash flow on day 1 with a potential 16% more upside, then look no further. This prime investment opportunity not only offers a stable income stream with a gross income of $166,920 and a solid net income of $109,175 annually but also addresses Long Beach's parking challenges. With an on-site parking, this property provides a valuable solution to the city's parking constraints. Don't miss the chance to acquire a premium property in the thriving Long Beach market, poised for both immediate returns and long-term value.
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Total Bedrooms : 14
Total Baths: 8
Full Baths: 0
Half Baths: 0
None
Air Conditioning
Wall Furnace
Has Heating
Year Built: 1963
Building Area Total: 4,432
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1411
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 6146
Original List Price: 1,800,000
Listing Contract Date: 2024-03-21
Listing Agreement: Seller Reserved
Parcel Number: 7269019035
Garage Description: Private
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: 4 - Downtown Area, Alamitos Beach
Postal Code Plus 4: 1835
Directions: From 710 Freeway, Exit PCH - East, Turn right onto Locust Ave. Property will be on your left side in between 16th street and PCH.
Zoning: LBPD29
Source Property Type: Residential Income
Area: 4 - Downtown Area, Alamitos Beach
Property Age: 61
Year Built Source: Vendor Enhanced
Total Square Feet Living: 4432
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
650 E 15th Street #A-D, Long Beach, CA,90813 | $1,950,000 | -- | -- | 4,158 | 6790 Sqft |
923 Long Beach Boulevard, Long Beach, CA,90813 | $3,300,000 | -- | -- | -- | 16500 Sqft |
1367 Alamitos Avenue, Long Beach, CA,90813 | $1,090,000 | 4 | 2 | 1,890 | 7218 Sqft |
1830 1838 E 7th Street, Long Beach, CA,90813 | $2,650,000 | -- | -- | 6,044 | 11668 Sqft |
1044 Cedar Avenue, Long Beach, CA,90813 | $1,275,000 | 12 | 7 | 4,766 | 7451 Sqft |
1151 Daisy Avenue, Long Beach, CA,90813 | $2,800,000 | -- | -- | 4,604 | 7440 Sqft |
914 N Loma Vista Drive, Long Beach, CA,90813 | $2,200,000 | -- | -- | 4,502 | 8623 Sqft |
1526 Cedar Avenue, Long Beach, CA,90813 | $1,650,000 | -- | -- | 4,464 | 7735 Sqft |
1135 Linden Avenue, Long Beach, CA,90813 | $1,450,000 | -- | -- | 4,146 | 7519 Sqft |
1380 Cherry Avenue, Long Beach, CA,90813 | $1,075,000 | -- | -- | 2,752 | 5850 Sqft |
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ByOwner last updated this listing 05/21/2024 @ 11:05
MLS: 24371337
LISTED BY: John McCann, Lyon Stahl Investment Real Estate, Inc.
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.