1716 Locust Avenue
Long Beach, CA 90813
- – beds
- – baths
- – sqft
- 6,146 sqft lot
- 1963 build
- – on site
Nestled in the heart of Long Beach, this eight-unit residential property at 1716 Locust Avenue presents an attractive investment prospect. Strategically positioned just south of PCH, with easy access to both Long Beach Blvd and Pacific Avenue, the property offers convenience and desirability to potential tenants. Built in 1963, the building spans 4,432 square feet on a generously sized 6,144 square foot lot. Comprising a mix of six 2-bedroom/1-bathroom units and two 1-bedroom/1-bathroom units, this property showcases a diverse range of living spaces to accommodate various tenant needs. With a solid rental history, the property consistently generates $14,823 per month and $177,876 annually in rental income. Listed for sale at $1,725,000, the property presents an attractive investment opportunity, boasting nearly a 7% cap rate and a 9.70 Gross Rent Multiplier (GRM). With its combination of location, rental income, and investment potential, this property stands as a promising opportunity for investors seeking to expand their real estate portfolio in Long Beach.
Last checked:
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Last updated Feb 18, 2025
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MLS# 24468909 —
The Building
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Year Built:1963
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New Construction:No
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Building Area Total:4432.00
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Total Number Of Units:8
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# of Buildings:1
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Stories Total:2
Interior
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Levels:Two
Location
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Directions:On Locust Ave
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Latitude:33.78844200
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Longitude:-118.19069200
The Property
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Property Type:Residential Income
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Zoning:LBPD29
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Lot Size Area:6146.0000
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Lot Size Acres:0.1411
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Lot Size SqFt:6146.00
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:7269019035
Heating & Cooling
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Heating:1
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Heating:Wall Furnace
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Cooling:Yes
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Cooling:Wall/Window Unit(s)
Appliances
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Included:Yes
The Community
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Association:No
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Senior Community:No
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Assessments:No
Parking
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Parking:Yes
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Parking:Driveway
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Parking Spaces:4.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
2/10/25
Feb 10, 2025
|
Listed / Active | CRMLS_CA | $1,725,000 | 87.5% (9.0% / YR) |
|
3/21/24
Mar 21, 2024
|
Listed / Active | CRMLS_CA | ||
|
5/15/15
May 15, 2015
|
CRMLS_CA | $920,000 |
