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2129 Locust Ave 4 Unit Apartment Building $995,000 ($248,750/Unit) 5.71% Cap Rate Long Beach, CA 90806
Investment Highlights
- South Wrigley Location
- Brand New Roofs, Upgraded Electrical Panels, and Copper / Pex Plumbing Throughout
- Award Winning Poly High School Walking Distance
- Brand New Ground Up Construction One Bedroom ADU
- Amenities That All Tenants Value
Executive Summary
Marcus & Millichap is pleased to present a 4-unit multifamily property. Built in 1928 originally as a triplex, the subject property consists of 2,351 rentable square feet
spread throughout a 6,258 square foot lot. The property consists of a Two Bedroom + Den / One Bathroom House with 2 Existing One Bedroom / One Bathroom Units and
1 Brand new One Bedroom ADU. It contains three garages and one storage space.
spread throughout a 6,258 square foot lot. The property consists of a Two Bedroom + Den / One Bathroom House with 2 Existing One Bedroom / One Bathroom Units and
1 Brand new One Bedroom ADU. It contains three garages and one storage space.
Property Facts
| Price | $995,000 | Building Class | C |
| Price Per Unit | $248,750 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 6,258 SF |
| Cap Rate | 5.71% | No. Stories | 1 |
| No. Units | 4 | Year Built | 1928 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | LBR2N - Residential | ||
| Price | $995,000 |
| Price Per Unit | $248,750 |
| Sale Type | Investment |
| Cap Rate | 5.71% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 6,258 SF |
| No. Stories | 1 |
| Year Built | 1928 |
| Opportunity Zone |
Yes |
| Zoning | LBR2N - Residential |
Amenities
Unit Amenities
- Kitchen
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 7208-025-021 | Improvements Assessment | $180,277 |
| Land Assessment | $193,156 | Total Assessment | $373,433 |
Property Taxes
Parcel Number
7208-025-021
Land Assessment
$193,156
Improvements Assessment
$180,277
Total Assessment
$373,433
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2129 Locust Ave
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