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(323) 864-4211
Linda Roth Burrell
1775 Locust Ave, Long Beach, CA 90813
- $1,960,000
- 19
- BD
- 9
- BA
- 7,176
- SqFt
- Sold Price
- $1,960,000
- List Price
- $2,019,000
- Closing Date
- Dec 17, 2025
- MLS#
- 25543763
- Year Built
- 1962
- Bedrooms
- 19
- Bathrooms
- 9
- Living Sq. Ft
- 7,176
- Lot Size
- 7,509
- Days on Market
- 169
- Property Type
- Multifamily
- Stories
- 2
Property Description
PRICE REDUCED $30K - and PRICED TO SELL. Currently under a 9 GRM and 7.1% CAP with upside to under an 8 GRM and 8.4% CAP. 9 units in Long Beach. Excellent unit mix for the area. Well-maintained and professionally managed property. Property is subject to AB 1482 Rent Control (5% + CPI increase allowed). 4 garages in the rear. On-site laundry. A number of units here are rented to Section 8 and Housing Programs - rents could easily be increased based on Payment Standards for the 90813 zip code. The 4 garages in rear could potentially be converted to ADU's - Buyer to verify. Qualified Buyers can put down as little as 25% on a new loan. Earn over 10% cash on cash against in place rents, and over 15% cash on cash at market. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
Additional Information
- Other Buildings
- None
- Heat
- Wall
- Cooling
- None
- Number of Cars in Garage
- Assigned
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Courtesy of The Agency, Jonathan Swire - CA DRE#01336277 Selling Office: .
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