1885 Locust Ave Long Beach, CA 90806
Southeast Wrigley NeighborhoodEstimated payment $15,915/month
Highlights
- Laundry Room
- Long Beach Polytechnic High School Rated A
- Rectangular Lot
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
Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 714-655-0098 License #02060007 Listed on: 03/24/2026
Property Details
Home Type
- Apartment
Year Built
- Built in 1952
Lot Details
- 6,753 Sq Ft Lot
- No Common Walls
- Rectangular Lot
Home Design
- Entry on the 1st floor
Interior Spaces
- 8,264 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 5 Bedrooms
- Unit 1 Bathroom: 0
- Unit 2 Bathroom: 0
- Unit 3 Bathroom: 0
Listing and Financial Details
- Tax Lot 28
- Tax Tract Number 1
- Assessor Parcel Number 7209017035
- $2,564 per year additional tax assessments
Community Details
Overview
- 13 Units
- Wrigley Area Subdivision
Amenities
- Laundry Facilities
Building Details
- 13 Separate Electric Meters
- 13 Separate Gas Meters
- 1 Separate Water Meter
- Operating Expense $94,367
- Gross Income $263,376
- Net Operating Income $161,160
Map
Home Values in the Area
Average Home Value in this Area
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 |
Property History
| Date | Event | Price | List to Sale | Price per 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
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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
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