1013 Locust AVE Long Beach, CA 90813
Active
$1,699,000
1%
6 Units
7 Beds
7 Baths
4,693 Area(sq.ft.)
7,526 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 1 | 1 | No | $ 2,075 | $ 2,100 | $ 2,100 |
| Unit 2 | 1 | 1 | 1 | No | $ 1,900 | $ 1,925 | $ 2,050 |
| Unit 3 | 1 | 1 | 1 | No | $ 2,000 | $ 2,025 | $ 2,050 |
| Unit 4 | 1 | 1 | 1 | No | $ 2,100 | $ 2,125 | $ 2,175 |
| Unit 5 | 1 | 1 | 1 | No | $ 1,950 | $ 1,975 | $ 2,050 |
| Unit 6 | 1 | 2 | 2 | No | $ 2,850 | $ 2,875 | $ 2,950 |
| 6 | 6 | 7 | 7 | $ 12,875 | $ 13,025 | $ 13,375 |
| MLS #: | PW24110123MR |
| Days On Market: | 96 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 362 |
| Price per unit: | $ 283,167 |
| Year Built: | 1905 |
Property Details
This is the high cash flow turn key multi-family you have been looking for! Every one of these units have been beautifully remodeled and all have their own private laundry! The rear building has had extensive updates and consist of 4 units offering refinished hardwood floors in some units while others have new water resistant laminate. Other upgrade includes new bathrooms, upgraded plumbing, lovely updated vintage kitchens loads of storage, mud rooms with rear exits and each with their own private laundry hook ups, new light fixtures, stainless appliances installed and much more! All located on a huge lot with large common area for tenants. The front duplex is stunning with a huge owner's unit that is absolutely incredible!! Offering soaring coved ceilings, stunning formal dining room with grand bay window and original huge with pocket doors! The gigantic formal living/family room has to bee seen with faux fireplace with all original built in book shelves. There is even a grand formal entry, gorgeous kitchen that is stunning to say the least with solid surface counter tops, amazing light fixtures offering many new upgrades but some original built-in cabinets remain. There are 2 bedrooms one leading out to a really cool private side patio exclusive to the unit and the other bedroom is on the second floor with an enormous walk in closet with access to an huge attic space and 1.5 baths total! The main floor bathroom is enormous and has been fully remodeled. The duplex has a new roof installed and the rear 4 unit has had white coating with a 5 year warranty for added heat prevention. There is a 1 stall detached garage currently used as storage that has the preliminary approval for an ADU conversion, and the finished plans will be provided to the Buyer! Also, the very unique PD-30 zoning on this particular property could allow you to possibly add MANY more units in the future! (Buyer to verify independently) Truly the possibilities are endless or keep it as it is making great cash flow! All units are separately metered for gas and electric. (All photos were taken after remodel and before tenants moved in, condition may vary)Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Rent Control: | Yes |
| Total Annual Expense: | $ 5,000 |
| Net Operating Income: | $ 151,300 |
Structure
| Community Features: | Curbs, Sidewalks, Storm Drains, Street Lights |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | LBR4N |
| Land Lease Type: | Fee |
| Parking Garage: | None |
Interior
| AC/Cooling: | None |
| Heating: | Floor Furnace, Wall |
| Fireplace Rooms: | None |
| Laundry: | Inside, Room |
Exterior
| Pool: | No |
Detailed Map
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