1775 Locust ave, Long Beach, CA 90813
Active
$2,200,000
3%
9 Units
19 Beds
9 Baths
7,176 Area(sq.ft.)
Lot: 7,509 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 7 | 2 | 1 | No | $ 1,895 | $ 1,895 | $ 1,895 |
| Unit 2 | 2 | 3 | 1 | No | $ 2,295 | $ 2,295 | $ 2,295 |
| 9 | 20 | 9 | $ 17,855 | $ 17,855 | $ 17,855 |
| MLS #: | 25543763 |
| Days On Market: | 193 |
| Listing Date: | May 27, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 307 |
| Price per unit: | $ 244,444 |
| Year Built: | 1962 |
Property Details
PRICED TO SELL. 9.6 GRM and 6.6% CAP with upside to a 8.6 GRM and 7.7% CAP. 9 units in Long Beach. Excellent unit mix for the area. Well-maintained and professionally managed property. Property is subject to AB 1482 Rent Control (5% + CPI increase allowed). 4 garages in the rear. On-site laundry. A number of units here are rented to Section 8 and Housing Programs - rents could easily be increased based on Payment Standards for the 90813 zip code. The 4 garages in rear could potentially be converted to ADU's - Buyer to verify. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.Interested in this Listing?
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Income Details
| Gross Operating Income: | $ 224,000 |
| Total Annual Expense: | $ 77,000 |
| Net Operating Income: | $ 144,000 |
| Gross Annual Income: | $ 229,000 |
| Cap Rate: | 6.8% |
| Gross Rent Multiplier: | 9.60 |
Structure
| Type of Units: | Income |
| Buildings: | 1 |
| Levels: | Two |
Land & Parking
| Zoning: | LBR4R |
| Parking Garage: | Assigned |
Interior
| AC/Cooling: | None |
| Equipment: | None |
| Heating: | Wall |
Exterior
Detailed Map
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Income
