1922 Locust Ave Long Beach, CA 90806
Southeast Wrigley NeighborhoodEstimated payment $11,170/month
Total Views
1,281
8
Beds
8
Baths
4,732
Sq Ft
$359
Price per Sq Ft
About This Home
7.32% Cap Rate and a 9.52 GRM, 1922 Locust Ave, is an 8-unit apartment building located in the South Wrigley submarket of Long Beach. Priced at just $212k/unit, this investment offers a compelling mix of immediate cash flow and long-term upside in a rapidly developing market. The property is comprised of (8) 1-Bed/1-Bath units, with five recently remodeled. Three units are currently vacant and rent-ready, offering the perfectopportunity for an owner-user or investor to quickly add value. Situated just outside the booming Downtown Long Beach core, 1922 Locust Ave is primed to benefit from over $6 Billion in local investment, including transformational projects like the Long Beach Civic Center, Queen Mary Island, CSULB Downtown Village, Broadway Block, and the Ocean Aire Development. No local rent control - subject to AB-1482 CA Statewide rent control, which allows 5%+CPI rental increases.
Listing Agent
Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 310-748-1445 License #02212779
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1946
Lot Details
- 4,500 Sq Ft Lot
- Two or More Common Walls
- Density is up to 1 Unit/Acre
Home Design
- Apartment
Interior Spaces
- 4,732 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 8 Bedrooms
- 8 Bathrooms
Location
- Urban Location
Listing and Financial Details
- Legal Lot and Block 19 / C
- Tax Tract Number 123
- Assessor Parcel Number 7209014024
- $12,345 per year additional tax assessments
Community Details
Overview
- 8 Units
Building Details
- 7 Leased Units
- Rent Control
- 8 Separate Electric Meters
- 8 Separate Gas Meters
- 1 Separate Water Meter
- Operating Expense $48,468
- Gross Income $173,268
- Net Operating Income $119,602
Map
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/16/2025 05/16/25 | For Sale | $1,700,000 | 0.0% | $359 / Sq Ft |
| 05/16/2025 05/16/25 | Off Market | $1,700,000 | -- | -- |
| 05/14/2025 05/14/25 | For Sale | $1,700,000 | +36.0% | $359 / Sq Ft |
| 09/17/2024 09/17/24 | Sold | $1,250,000 | 0.0% | $264 / Sq Ft |
| 07/24/2024 07/24/24 | Pending | -- | -- | -- |
| 07/24/2024 07/24/24 | Price Changed | $1,250,000 | 0.0% | $264 / Sq Ft |
| 07/24/2024 07/24/24 | For Sale | $1,250,000 | -16.7% | $264 / Sq Ft |
| 06/13/2024 06/13/24 | Pending | -- | -- | -- |
| 06/03/2024 06/03/24 | For Sale | $1,500,000 | -- | $317 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Similar Homes in Long Beach, CA
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB25107697
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