1025 Locust Avenue
$2,000,000
4
8
5,498
5,498
$364
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...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 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. 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!
- Listed by Cameron Jacques • DRE #01852032 • Brokerage DRE #02061504 • Kinnery's Brokerage House • 310-490-8134
Property Details for 1025 Locust Avenue
Architectural Style
Cape Cod
ViewNeighborhood
Parking Spaces Total4
Private PoolNo
Cooling TypeWall/Window Unit(s)
Total Units8.0
Building TypeDetached
Lot Size SourceAssessor
LISTING UPDATED: 11/15/2024 05:11 AM
Property Details for 1025 Locust Avenue
Status | Active |
---|---|
MLS # | PW24230683 |
Days on Market | 6 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Mixed Use |
MLS Type | Residential Income |
Year Built | 1920 |
Lot Size | 0.17 AC / 7,356 SF |
County | Los Angeles County |
Building Information for 1025 Locust Avenue
Stories2Residences-Year Built1920Building Size-Lot Size0.17 AC / 7,356 SF
Property Information for 1025 Locust Avenue
Property History for 1025 Locust Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1025 Locust Avenue
Taxable ValueLand$959,344Additions$412,740Total$1,372,084
Tax Record2024$18,602 ($1,550 / month)
Home Facts
Total Finished SqFt5,498 SqFtAbove Grade Finished SqFt5,498 SqFtLot Size7,369 SqFtStyleMulti-Family Res (5+ Units)Year Built1920ZoningLBR4NCountyLOS ANGELESAPN7273-006-014
Schools near 1025 Locust Avenue
This home is within Long Beach Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Roosevelt Elementary School PublicK to 5 | ||
Washington Middle School Public6 to 8 | ||
Polytechnic High School Public9 to 12 | ||
Renaissance High School For The Arts Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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