$ 1,895,000
-
$1,895,000
Price -
2
Bed -
6
Bath -
5,498
SqFt
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About the Listing PB19506 - PWJACCAM
Attention ALL Multi-Family Investors! We are proud to offer this once in a lifetime 8-Unit Downtown Trophy Asset approximately 1 mile to the Beach, Pier and everything that's wonderful about Long Beach. NO CITYWIDE RENT CONTROL offers savvy landlords countless flexibility. Ideal Location! Location! Located within city’s fast-growing Opportunity Zone, walking distance to Historic Pine Ave, 4th Street’s Retro-Row, restaurants, bike trails, schools, churches, dog park, grocery store and approximately 200 ft to Metro A line train station. 1025 Locust is a picturesque 1920s building, featuring all the qualities and characteristics of classic 20th century architecture – boasting magnificent woodwork, built-in cabinetry, high ceilings, crown moldings, expansive floor plans with an abundance of natural light and great curb appeal. “Pride of Ownership” is evident. Recent interior upgrades include remodeled kitchens and bathrooms, refurbished hardwood flooring, new quartz/granite countertops, new wood plank vinyl flooring, 44 new windows installed in 2021, new fixtures, custom two-tone paint and AC window cooling. Recent exterior upgrades include: New common area plank flooring, New landscaping, exterior paint and trim, new garage/auto door, and concrete driveway. The units are much larger than many of the nearby apartment units. The oversized 3-room studios include galley style kitchens with counter to ceiling cabinets, walk-in closets and the extremely large 1 bedrooms offer full-size kitchens, walk-in showers, bathtubs and a service porch. Additional investor notables: spacious backyard area and four garages offer great duplex ADU building potential; new statewide density and parking requirements for multi-units near mass transit offers similar development upside as 97-unit 1112 Locust apartment building; improve best use of 5,498 sq. ft building space to double current bedroom count or increase income immediately with fully furnished apartments similar to current AirBnB Apt. #6. Don’t miss this rare opportunity to own a turnkey Cash Cow and a legacy of authentic history while taking full advantage of endless income growth. Seller MOTIVATED!!
Listing Highlights for 1025 Locust Ave
Status
Active
Days on Site
29
Property Type
Multi-Family
MLS ®
PW25225333
Year Built
1923
Total Square Footage
5,498
Lot/Acreage
0.17
Interior Details
- Bedrooms: 2
- Bathrooms: 6 Full
- Appliances: Gas Oven, Gas Range, Gas Cooktop, Microwave, Refrigerator
- Air Cond: Wall/Window Unit(s)
- Heating: Wall Furnace
- Fireplaces: Family Room
- Floor: Carpet,Tile,Vinyl,Wood
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Ceiling Fan(s),Crown Molding,Recessed Lighting
- Water: Public
Exterior Details
- Lot Description: Back Yard,Rectangular Lot,Walkstreet,Yard,No Land Lease
- Garage Capacity: 4 car
- Parking Spaces: 4
- Zoning: LBR4N
- Roof: Composition,Flat
- Others: 2+ Total Units
- Sewer: Public Sewer
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7273006014
- Tax Year: N/A
Payment Calculator
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Listing Location
Questions About..
1025 Locust Ave Long Beach, CA 90813
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