1922 Locust Ave Long Beach, CA 90806
Southeast Wrigley NeighborhoodEstimated payment $10,749/month
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 Listed on: 05/14/2025
Co-Listing Agent
Lyon Stahl Investment Real Est Brokerage Phone: 310-748-1445 License #02092597
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
- Entry on the 1st floor
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 $48,731
- Gross Income $178,524
- Net Operating Income $124,437
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 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 | View Prior Sale |
| 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)
MLS Number: SB25107697
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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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