1716 Locust Avenue Long Beach, CA 90813
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.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site87 Days
- MLS StatusActive
- MLS ID Number24371337
- Home Size Source N/A
- Year Built1963
- Lot Size0.1411 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking Private
- Parking Spaces 6
- Number of Stories 22
- Acreage 0.1411
- Zoning LBPD29
- Listing Conditions Standard
Interior Features
- Cooling None
- Heating Wall Furnace
Community Features
- Senior Community No
- MLS Area 4 - Downtown Area, Alamitos Beach