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Tina Lucarelli

[email protected] +1(310) 738-8089

Listed by Cameron Jacques • Kinnery's Brokerage House

$ 1,950,000

Est. payment -/mo

Save

Price Dropped by $25K

1025 Locust Avenue Long Beach, CA 90813

5,498 SqFt

UPDATED:

01/21/2025 12:47 AM

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 5,498 sqft

Price per Sqft $354

Subdivision Downtown

MLS Listing ID PW-24230683

Style Cape Cod

Year Built 1923

Lot Size 7,356 Sqft

Property Description

Attention ALL Multi-Family Investors! We are proud to offer this once in a lifetime 8-Unit Downtown Trophy Asset approximately 1 mile to the Beach, Pier and everything that's wonderful about Long Beach. NO CITYWIDE RENT CONTROL offers savvy landlords countless flexibility. Ideal Location! Location! Located within city's fast-growing Opportunity Zone, walking distance to Historic Pine Ave, 4th Street's Retro-Row, restaurants, bike trails, schools, churches, dog park, grocery store and approximately 200 ft to Metro A line train station. 1025 Locust is a picturesque 1920s building, featuring all the qualities and characteristics of classic 20th century architecture - boasting magnificent woodwork, built-in cabinetry, high ceilings, crown moldings, expansive floor plans with an abundance of natural light and great curb appeal. "Pride of Ownership" is evident. Recent interior upgrades include remodeled kitchens and bathrooms, refurbished hardwood flooring, new quartz/granite countertops, new wood plank vinyl flooring, 44 new windows installed in 2021, new fixtures, custom two-tone paint and AC window cooling. Recent exterior upgrades include: New common area plank flooring, New landscaping, exterior paint and trim, new garage/auto door, and concrete driveway. The units are much larger than many of the nearby apartment units. The oversized 3-room studios include galley style kitchens with counter to ceiling cabinets, walk-in closets and the extremely large 1 bedrooms offer full-size kitchens, walk-in showers, bathtubs and a service porch. Additional investor notables: spacious backyard area and four garages offer great duplex ADU building potential; new statewide density and parking requirements for multi-units near mass transit offers similar development upside as 97-unit 1112 Locust apartment building; improve best use of 5,498 sq. ft building space to double current bedroom count or increase income immediately with fully furnished apartments similar to current AirBnB Apt. #6. Don't miss this rare opportunity to own a turnkey Cash Cow and a legacy of authentic history while taking full advantage of endless income growth. Seller MOTIVATED!!

Location

State CA

County Los Angeles

Zoning LBR4N

Interior

Interior Features Crown Molding, Ceiling Fan(s), Recessed Lighting

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Flooring Carpet, Tile, Vinyl, Wood

Fireplaces Type Family Room

Laundry None

Exterior

Parking Features Gated

Garage Spaces 4.0

Pool None

Community Features Biking, Curbs, Golf, Gutters, Park, Sidewalks, Street Lights, Suburban, Watersports

Utilities Available Sewer Connected, Water Connected, Electricity Connected, Natural Gas Connected

View Y/N Yes

Building

Lot Description Rectangular Lot, Walkstreet, Yard, Back Yard

Sewer Public Sewer

Tina Lucarelli

Advisor | License ID: 02102354

+1(310) 738-8089

Tina Lucarelli

1025 Locust Avenue Long Beach, CA 90813

Key Details

Location

Interior

Exterior

Building

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1025 Locust Avenue