1640 Locust ave, Long Beach, CA 90813
Active
$1,950,000
7 Units
25 Beds
8 Baths
6,295 Area(sq.ft.)
Lot: 7,423 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 1 | No | $ 1,710 | $ 1,710 | $ 2,200 |
| Unit 2 | 1 | 4 | 1 | No | $ 1,815 | $ 1,815 | $ 3,000 |
| Unit 3 | 1 | 3 | 1 | No | $ 1,808 | $ 1,808 | $ 2,500 |
| Unit 4 | 1 | 4 | 1 | No | $ 2,879 | $ 2,879 | $ 3,000 |
| Unit 5 | 1 | 3 | 1 | No | $ 2,197 | $ 2,197 | $ 2,500 |
| Unit 6 | 1 | 5 | 2 | No | $ 2,060 | $ 2,060 | $ 3,200 |
| Unit 7 | 1 | 4 | 1 | No | $ 1,619 | $ 1,619 | $ 3,000 |
| 7 | 25 | 8 | $ 14,088 | $ 14,088 | $ 19,400 |
| MLS #: | DW25065291MR |
| Days On Market: | 25 |
| Listing Date: | March 25, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 310 |
| Price per unit: | $ 278,571 |
| Year Built: | 1924 |
Property Details
This property has assumable financing at a great rate, value add, low rents, large unit mix, performing tenants, and a motivated seller who is open to carry the loan/seller finance the deal. Furthermore, is not contingent upon finding a replacement property. That is the difference from what you see on the market today. The OM is available for review to understand the deal and numbers.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Rent Control: | False |
| Total Annual Expense: | $ 43,820 |
| Net Operating Income: | $ 125,236 |
| Cap Rate: | 6.42% |
| Gross Rent Multiplier: | 11.53 |
Structure
| Community Features: | Sidewalks, Storm Drains, Street Lights |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | LBPD29 |
| Land Lease Type: | Fee |
| Parking Garage: | None |
Interior
| Laundry: | None |
Exterior
| Pool: | No |
Detailed Map
Schools
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Income
