1716 Locust Avenue, Long Beach, CA 90813 - Berkshire Hathaway HomeServices California Properties

1716 Locust Avenue, Long Beach, CA 90813

$1,725,000 Approx. USD 14 beds, 8 baths
4,432 sqft

Listing Agent


John McCann | jack@lyonstahl.com
Lic#: 01963932
Broker: Courtesy of Lyon Stahl Investment Real Estate, Inc.

Agent Remarks

Nestled in the heart of Long Beach, this eight-unit residential property at 1716 Locust Avenue presents an attractive investment prospect. Strategically positioned just south of PCH, with easy access to both Long Beach Blvd and Pacific Avenue, the property offers convenience and desirability to potential tenants. Built in 1963, the building spans 4,432 square feet on a generously sized 6,144 square foot lot. Comprising a mix of six 2-bedroom/1-bathroom units and two 1-bedroom/1-bathroom units, this property showcases a diverse range of living spaces to accommodate various tenant needs. With a solid rental history, the property consistently generates $14,823 per month and $177,876 annually in rental income. Listed for sale at $1,725,000, the property presents an attractive investment opportunity, boasting nearly a 7% cap rate and a 9.70 Gross Rent Multiplier (GRM). With its combination of location, rental income, and investment potential, this property stands as a promising opportunity for investors seeking to expand their real estate portfolio in Long Beach.

Listing Details

Property type: (Multi-Family)
Status: Active
MLS# 24468909
Price: $1,725,000
Beds: 14
Baths: 8
Built in 1963
4,432 sqft
2 stories
0.14 acres
Lot size: 0.1411
County: Los Angeles
Zoning: LBPD29
Parking description: Driveway
Heating/cooling: Wall/Window Unit(s)
Heating description: Wall Furnace
MLS area: 4 - Downtown Area, Alamitos Beach

Last Updated: 2/18/2025

 Days On Market (DOM): 86

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This listing belongs to the 4 - Downtown Area, Alamitos Beach MLS area

Lat/Long: 33.788442, -118.190692.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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