Long Beach, CA 90813 1716 Locust Avenue
$1,800,000
7 more
Presented By: John McCann with Lyon Stahl Investment Real Estate, Inc.;
Home Details
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.
Presented By: John McCann with Lyon Stahl Investment Real Estate, Inc.;
Interior Features for 1716 Locust Avenue
Bedrooms
Total Bedrooms14
Bathrooms
1/4 Baths0
3/4 Baths0
Full Baths
Half Baths
Total Baths8
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NYes
Street SuffixAvenue
Total Stories2
General for 1716 Locust Avenue
Additional Parcels Y/NNo
Attached Garage No
Buyer FinancingConventional
Cap Rate6.07
Carport Y/NNo
CityLong Beach
CoolingNone
CountyLos Angeles
Days on Market8
DirectionsFrom 710 Freeway, Exit PCH - East, Turn right onto Locust Ave. Property will be on your left side in between 16th street and PCH.
Garage Y/NNo
Gross Income166920.0
HOA / Comm AssnNo
HeatingWallFurnace
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Lot Size Square Feet6146.0
MLS Area4 - Downtown Area, Alamitos Beach
MobileHomeRemainsYNNo
Net Operating Income109175.0
New ConstructionNo
PossessionCloseOfEscrow
Private PoolNo
Property Attached Y/NNo
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Street NameLocust
Total Units8
View Y/NNo
Waterfront Y/NNo
Year Built1963
ZoningLBPD29
Exterior for 1716 Locust Avenue
Building Area Total4432.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.1411
Lot Size Area6146.0
Lot Size UnitsSquareFeet
Number of Buildings1
Open Parking Y/NNo
Parking FeaturesPrivate
SpaNo
Total Parking6.0
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480