Long Beach, CA 90806 2065 Locust Avenue

Sold: Nov 09, 2020
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Presented By: Cameron Samimi with Lyon Stahl Investment Real Estate, Inc.;
  • MLS# SB20144327
  • 07/21/2020
  • Request Tour
  • Request Info
  • BedBeds • 4
  • BathBaths • 4
  • FootageSQFT • 3,376
  • GarageGarage • 5

Home Details

All Tenants are currently paying! Perfect Owner Occupied opportunity! Renovated, Major Cash Cow 4-plex at 2065 Locust Ave., Long Beach. One of the highest available Cap Rates on the market, this South Wrigley asset is perfect for anyone looking for immediate cash flow and low maintenance. On current rental income, the property operates at an incredible 5.39% Cap and 13.04 GRM. Locust Ave. has an incredibly strong unit mix, being comprised of (3) 2-bedroom/1-bath & (1) 5-bedroom/2-bath units. One 2 bedroom/1 bath unit can be delivered vacant at close of escrow. A very rare commodity in Long Beach, the property has (5) garages on site conveniently located for all tenants, as well as an opportunity for extra income for owners. Renovations to the property include granite counter tops, stainless steel appliances, new bathrooms/floors, and a full copper re-pipe. Locust was also re-stuccoed and has new interior/exterior paint. The property is also separately metered for gas and electric. With $6B in development flowing into the city, Long Beach has continued to rise as a top beach community. This is a perfect opportunity for any buyer to own a cash flowing asset in one of Southern California’s last affordable beach communities.
Presented By: Cameron Samimi with Lyon Stahl Investment Real Estate, Inc.;

General for 2065 Locust Avenue

Additional Parcels Y/NNo
Building Area UnitsSquare Feet
Buyer Agent Compensation2.500
Buyer Agent Compensation Type%
Buyer FinancingConventional
CityLong Beach
Close Price1212000
Community FeaturesUrban
CountyLos Angeles
Directions21st and Locust
Electric Expense
Fuel Expense
Garage Spaces5
Garage Y/NYes
Gross Income93912
HeatingFloor Furnace
Insurance Expense
Land Lease Y/NNo
LevelsOne
Listing AgentCameron Samimi - BRE#02035763
Listing Agent State License02035763
Lot Size Square Feet7481
MLS Area5 - Wrigley Area
Net Operating Income65995
New ConstructionNo
Operating Expense25100
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property TypeResidential Income
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublic Sewer
Special Listing ConditionsStandard
Standard StatusClosed
StatusClosed
Stories1
Street NameLocust
Subdivision NameWrigley Area (WR)
Tax Lot7
Taxes$0
TermsConventional
Total Units4
Trash Expense0
Water Sewer Expense0
Year Built1940
Year Built SourceAssessor
ZoningLBR3T

Interior for 2065 Locust Avenue

Common Walls2+ Common Walls
Heating Y/NYes
Laundry FeaturesNone
Street SuffixAvenue
Total Stories1

Exterior for 2065 Locust Avenue

Building Area Total3376
Lot Features0-1 Unit/Acre
Lot Size Acres0.1717
Lot Size Area7481
Lot Size SourceAssessor
Lot Size UnitsSquare Feet
Number of Buildings1
Number of Separate Electric Meters4
Number of Separate Gas Meters4
Number of Separate Water Meters1
Total Parking5
Water SourcePublic
1527188455

First Team Client Services

Price $1,225,000
MLS#SB20144327
List Date 07/21/2020
Property Type Income
Phone 714.964.3311
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