1641 Locust Ave | Long Beach, CA 90813
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- LoopNet Team
1641 Locust Ave
Long Beach, CA 90813
PRICED TO SELL! 3.63% Assumable Financing! · Multifamily Property For Sale
·
14 Units
INVESTMENT HIGHLIGHTS
- Huge Value-Add Opportunity - 35% Upside in Rents!
- Tenants Enjoy Gated/Secured Entry
- Current Cap Rate: 6.10% | Current GRM: 11.72
- (1) 2-Bed/1-Bath Unit, (1) 1-Bed/1-Bath Cottage & (12) Studios
- RUBS System Implemented to Charge Tenants Back for Water/Trash/Sewer
- ** Assumable Financing Available!! 3.63% for 7.5 years fixed! (6.7%+ Current Cash-on-Cash Return)
PROPERTY FACTS
| No. Units | 14 | Lot Size | 0.17 AC |
| Property Type | Multifamily | Building Size | 7,020 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1927 |
| Building Class | C | Parking Ratio | 0.71/1,000 SF |
| Zoning | R4R, Long Beach - Multiple Dwelling | ||
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,020 SF |
| No. Stories | 2 |
| Year Built | 1927 |
| Parking Ratio | 0.71/1,000 SF |
| Zoning | R4R, Long Beach - Multiple Dwelling |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 1 | $852.00 | - |
| 1+1 | 1 | $934.00 | - |
| Studios | 12 | $1,329 | - |
PROPERTY TAXES
| Parcel Number | 7269-011-020 | Improvements Assessment | $1,515,404 |
| Land Assessment | $1,082,432 | Total Assessment | $2,597,836 |
PROPERTY TAXES
Parcel Number
7269-011-020
Land Assessment
$1,082,432
Improvements Assessment
$1,515,404
Total Assessment
$2,597,836
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