1775 Locust Ave

Property Description

PRICE REDUCED $30K - and PRICED TO SELL. Currently under a 9 GRM and 7.1% CAP with upside to under an 8 GRM and 8.4% CAP. 9 units in Long Beach. Excellent unit mix for the area. Well-maintained and professionally managed property. Property is subject to AB 1482 Rent Control (5% + CPI increase allowed). 4 garages in the rear. On-site laundry. A number of units here are rented to Section 8 and Housing Programs - rents could easily be increased based on Payment Standards for the 90813 zip code. The 4 garages in rear could potentially be converted to ADU's - Buyer to verify. Qualified Buyers can put down as little as 25% on a new loan. Earn over 10% cash on cash against in place rents, and over 15% cash on cash at market. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.

Overview

Property Status

Sold

Date Sold

December 17, 2025

Lot Size

7,509 Sq.Ft.

MLS ID

25543763

Property Type

Multi-Family

Year Built

1962

Features & Amenities

Stories

Parking

Assigned

Heat Type

Wall

Air Conditioning

None

Appliances

None

Sales Price

$1,960,000

Zoning

LBR4R

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Thank you

for your interest in 1775 Locust Ave, Long Beach, CA 90813

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