Listing provided courtesy of Jonathan Swire of The Agency. Last updated 2025-09-24 08:11:54.000000. Listing information © 2025 Sandicor.
Asking Price: $2,120,000 |
1775 Locust, Long Beach CA 90813
Community: 4 - Downtown Area, Alamitos Beach
This property was built in 1962 and is priced at $2,120,000. Please see the additional details below.
PRICE REDUCED - and PRICED TO SELL. Currently a 9.3 GRM and 6.9% CAP with upside to a 8.3 GRM and 8.1% 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 9% cash on cash against in place rents, and over 14% cash on cash at market. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
