$2,580,000

$50K PRICE DROP

1885 Locust Ave Long Beach, CA 90806

Southeast Wrigley Neighborhood

Estimated payment $15,650/month

Total Views 4,452

5 Beds

-- Bath

8,264 Sq Ft

$312 Price per Sq Ft

About This Home

Excellent opportunity to acquire a 13-unit apartment complex in a strong rental pocket of Long Beach, just north of Downtown in the South Wrigley neighborhood. The property offers convenient access to the Metro A Line and major freeways (710, 405, 91), providing tenants with strong regional connectivity. Built in 1952, the asset features an attractive unit mix of ten (10) 1-bedroom/1-bath units, two (2) 2-bedroom/1-bath units, and one (1) 2-bedroom/2-bath townhouse-style unit. The property is gated, separately metered for gas and electricity, and includes on-site laundry for additional income. Recent improvements include exterior paint, upgraded electrical panel, new water heater, and completed SB 721 compliance, helping reduce near-term capital expenditure. Subject to AB 1482, offering investors a more predictable and flexible operating environment compared to stricter municipalities. Ideal for investors seeking stable cash flow with upside potential through rental increases and operational efficiencies. Strong fit for local buyers and 1031 exchange investors targeting a well-located Long Beach asset.

Listing Agent

Chris van Vuuren

Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 714-655-0098 License #02060007 Listed on: 03/24/2026

Co-Listing Agent

Cris Molles

The Realestate Group Brokerage Phone: 714-655-0098 License #01345419

Map

Property Details

Home Type

Multi-Family

Year Built

1952

Lot Details

6,752 Sq Ft Lot

Listing Details

Assessments: Yes
CapRate: 6.27
Property Attached: No
Subdivision Name Other: Wrigley Area (WR)
Property Sub Type: Apartment
Property Type: Residential Income
Parcel Number: 7209017035
Year Built: 1952
Special Features: None

Interior Features

Stories: 2
Common Walls: No Common Walls
Entry Level: 1
Levels: Two
Price Per Square Foot: 312.20

Exterior Features

Pool Private: No

Utilities

Laundry: Yes
Laundry Features: Community
Sewer: Public Sewer
Water Source: Public

Condo/Co-op/Association

Senior Community: No
Community Features: Sidewalks

Lot Info

Additional Parcels: No
Land Lease: No
Lot Features: Rectangular Lot
Lot Size Sq Ft: 6753.00
Lot Size Acres: 0.1550

Multi Family

Gross Income: 263376.00
Gross Multiplier: 9.80
Gross Operating Income: 255527.00
Gross Scheduled Income: 263376.00
Lot Size Area: 6753.0000 Square Feet
Net Operating Income: 161795.00
Number Of Separate Electric Meters: 13
Number Of Separate Gas Meters: 13
Number Of Separate Water Meters: 1
Number Of Units Total: 13
Operating Expense: 93732.00
Rent Control: No
Total Expenses: 94367.00

Tax Info

Tax Lot: 28
Tax Tract Number: 1
TaxOtherAnnualAssessmentAmount: 2564.00

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Tax History

Year	Tax Paid	Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property.	Land	Improvement
2025	$23,646	$1,661,227	$684,500	$976,727
2024	$22,576	$1,628,655	$671,079	$957,576
2023	$22,175	$1,596,721	$657,921	$938,800
2022	$20,843	$1,565,414	$645,021	$920,393
2021	$20,375	$1,534,721	$632,374	$902,347
2020	$20,321	$1,518,985	$625,890	$893,095
2019	$20,082	$1,489,202	$613,618	$875,584
2018	$19,541	$1,460,003	$601,587	$858,416
2016	$17,355	$1,350,000	$859,100	$490,900
2015	$14,097	$1,100,000	$700,000	$400,000
2014	$14,301	$1,100,000	$700,000	$400,000

Source: Public Records

Property History

Date	Event	Price	List to Sale	Price per Sq Ft
04/22/2026 04/22/26	Price Changed	$2,580,000	-1.9%	$312 / Sq Ft
03/24/2026 03/24/26	For Sale	$2,630,000	--	$318 / Sq Ft

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB26063418

California Los Angeles County Long Beach 90806 Southeast Wrigley

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