1025 Locust AVE Active Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90813
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Downtown (Dt)
MLS Listing ID PW24230683
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1923
Lot Size 7,357 Sqft
Lot Dimensions Assessor
Property Description
Attention ALL Multi-Family Investors! We are proud to offer this once in a lifetime 8-Unit Downtown Trophy Asset approximately 1 mile to the Beach, Pier and everything that's wonderful about Long Beach. NO CITYWIDE RENT CONTROL offers savvy landlords countless flexibility. Ideal Location! Location! Located within city's fast-growing Opportunity Zone, walking distance to Historic Pine Ave, 4th Street's Retro-Row, restaurants, bike trails, schools, churches, dog park, grocery store and approximately 200 ft to Metro A line train station. 1025 Locust is a picturesque 1920s building, featuring all the qualities and characteristics of classic 20th century architecture – boasting magnificent woodwork, built-in cabinetry, high ceilings, crown moldings, expansive floor plans with an abundance of natural light and great curb appeal. “Pride of Ownership” is evident. Recent interior upgrades include remodeled kitchens and bathrooms, refurbished hardwood flooring, new quartz/granite countertops, new wood plank vinyl flooring, 44 new windows installed in 2021, new fixtures, custom two-tone paint and AC window cooling. Recent exterior upgrades include: New common area plank flooring, New landscaping, exterior paint and trim, new garage/auto door, and concrete driveway. The units are much larger than many of the nearby apartment units. The oversized 3-room studios include galley style kitchens with counter to ceiling cabinets, walk-in closets and the extremely large 1 bedrooms offer full-size kitchens, walk-in showers, bathtubs and a service porch. Additional investor notables: spacious backyard area and four garages offer great duplex ADU building potential; new statewide density and parking requirements for multi-units near mass transit offers similar development upside as 97-unit 1112 Locust apartment building; improve best use of 5,498 sq. ft building space to double current bedroom count or increase income immediately with fully furnished apartments similar to current AirBnB Apt. #6. Don't miss this rare opportunity to own a turnkey Cash Cow and a legacy of authentic history while taking full advantage of endless income growth. Seller MOTIVATED!!
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBR4N
Interior
Interior Features Ceiling Fan(s),Crown Molding,Recessed Lighting
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Carpet,Tile,Vinyl,Wood
Fireplaces Type Family Room
Fireplace Yes
Appliance Gas Cooktop,Gas Oven,Gas Range,Microwave,Refrigerator
Laundry None
Exterior
Garage Spaces 4.0
Garage Description 4.0
Fence Wood
Pool None
Community Features Biking,Curbs,Golf,Gutter(s),Park,Street Lights,Suburban,Sidewalks,Water Sports
Utilities Available Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected
View Y/N Yes
View Neighborhood
Roof Type Composition,Flat
Total Parking Spaces 4
Private Pool No
Building
Lot Description Back Yard,Rectangular Lot,Walkstreet,Yard
Story 2
Foundation Raised
Sewer Public Sewer
Water Public
Architectural Style Cape Cod
New Construction No
Construction Status Updated/Remodeled
Others
Senior Community No
Tax ID 7273006014
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard