$1,875,000
$75K PRICE DROP

1640 Locust Ave Long Beach, CA 90813

Washington School Neighborhood

Estimated payment $12,091/month

Total Views 4,995
25 Beds
8 Baths
6,295 Sq Ft
$298 Price per Sq Ft

About This Home

This property has assumable financing at a great rate, value add, low rents, large unit mix, performing tenants, and a motivated seller who is open to carry the loan/seller finance the deal. Furthermore, is not contingent upon finding a replacement property. That is the difference from what you see on the market today. The OM is available for review to understand the deal and numbers.

Listing Agent

Aaron Soliz

eXp Realty of Greater L.A Brokerage Phone: 562-201-3612 License #02042691 Listed on: 03/25/2025

eXp Realty of Greater L.A

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1924

Lot Details

  • 7,423 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Home Design

  • Apartment

Interior Spaces

  • 6,295 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 25 Bedrooms
  • 8 Bathrooms

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Tax Lot 14
  • Tax Tract Number 575
  • Assessor Parcel Number 7269018015
  • $1,504 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 4 Buildings
  • 7 Units
  • North Long Beach Subdivision

Building Details

  • 7 Separate Electric Meters
  • 7 Separate Gas Meters
  • 7 Separate Water Meters
  • Operating Expense $43,821
  • Gross Income $14,088
  • Net Operating Income $125,236

Property Details

Home Type

Multi-Family

Year Built

Built in 1924

Lot Details

0

Listing Details

  • CapRate: 6.42
  • Price Per Unit: 267857
  • Property Attached: Yes
  • Subdivision Name Other: North Long Beach (NLB)
  • Zoning: LBPD29
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7269018015
  • Year Built: 1924
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: 1
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 297.86

Exterior Features

  • Pool Private: No

Garage/Parking

  • Parking: No

Utilities

  • Laundry: No
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks, Storm Drains, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 7423.00
  • Lot Size Acres: 0.1704

Multi Family

  • Gross Income: 14088.00
  • Gross Multiplier: 11.53
  • Gross Scheduled Income: 169056.00
  • Lot Size Area: 7423.0000 Square Feet
  • Net Operating Income: 125235.50
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 7
  • Number Of Units Total: 7
  • Rent Control: No
  • Total Expenses: 43820.50

Tax Info

  • Tax Census Tract: 5754.02
  • Tax Lot: 14
  • Tax Tract Number: 575...
  • TaxOtherAnnualAssessmentAmount: 1504.00

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/23/2025 05/23/25 Price Changed $1,875,000 -3.8% $298 / Sq Ft
03/25/2025 03/25/25 For Sale $1,950,000 -- $310 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: DW25065291

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90813 Washington School

1640 Locust Ave, Long Beach, CA

This home is located at 1640 Locust Ave, Long Beach, CA 90813 and is currently priced at $1,875,000, approximately $297 per square foot. This property was built in 1924. 1640 Locust Ave is a home located in Los Angeles County with nearby schools including Roosevelt Elementary School, Washington Middle School, and Long Beach Polytechnic High School.

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

Nearby Homes
Listing Agent
Aaron Soliz
Section Image
eXp Realty of Greater L.A
(562) 609-3861