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$ 1,700,000
Est. payment | /mo
4,732 SqFt
$ 1,700,000
Est. payment | /mo
4,732 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,732 sqft
Price per Sqft $359
MLS Listing ID CRSB25107697
HOA Y/N No
Year Built 1946
Lot Size 4,500 Sqft
Acres 0.1
Property Sub-Type Other
Property Description
7.32% Cap Rate and a 9.52 GRM, 1922 Locust Ave, is an 8-unit apartment building located in the South Wrigley submarket of Long Beach. Priced at just $212k/unit, this investment offers a compelling mix of immediate cash flow and long-term upside in a rapidly developing market. The property is comprised of (8) 1-Bed/1-Bath units, with five recently remodeled. Three units are currently vacant and rent-ready, offering the perfect opportunity for an owner-user or investor to quickly add value. Situated just outside the booming Downtown Long Beach core, 1922 Locust Ave is primed to benefit from over $6 Billion in local investment, including transformational projects like the Long Beach Civic Center, Queen Mary Island, CSULB Downtown Village, Broadway Block, and the Ocean Aire Development. No local rent control - subject to AB-1482 CA Statewide rent control, which allows 5%+CPI rental increases.
Location
State CA
County Los Angeles
Zoning LBPD
Interior
Fireplace No
Laundry See Remarks
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 7209014024
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Ryan Versfelt • Lyon Stahl Investment Real Estate, Inc.
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