1775 Locust Avenue Active Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90813
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,176 sqft
Price per Sqft $285
MLS Listing ID CL25543763
HOA Y/N No
Year Built 1962
Lot Size 7,509 Sqft
Acres 0.17
Property Sub-Type Other
Property Description
PRICE REDUCED - and PRICED TO SELL. Currently a 9.0 GRM and 7.2% CAP with upside to a 8.0 GRM and 8.4% 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. Qualified Buyers can put down as little as 25% on a new loan. Earn over 11% cash on cash against in place rents, and over 15% cash on cash at market. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
Location
State CA
County Los Angeles
Zoning LBR4
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 7269010037