$3,900,000
$4,150,000
6.0%For more information regarding the value of a property, please contact us for a free consultation.
13,054 SqFt
SOLD DATE : 11/14/2023
Key Details
Sold Price $3,900,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 13,054 sqft
Price per Sqft $298
MLS Listing ID CRPW23149053
Sold Date 11/14/23
HOA Y/N No
Year Built 1964
Lot Size 7,521 Sqft
Acres 0.17
Property Sub-Type Other
Property Description
945 Locust Avenue is a 16-unit apartment property in Long Beach, California, adjacent to the vibrant East Village Arts District and Downtown. The controlled-access, all-electric, separately-metered building features two (2) 2BD / 2 BA units and fourteen (14) 2BD / 1 BA units. Seven (7) of the units are fully remodeled with new flooring, kitchens, stainless steel appliances, new bathrooms and modern fixtures and finishes. Double-pane windows are installed throughout the building for additional energy efficiency. An onsite laundry / storage room can provide extra income, and the eight (8) garages offer the opportunity for ADU conversion for additional rental income. 945 Locust Avenue is priced at 11.73 GRM and 5.39% cap rate at current rents.
Location
State CA
County Los Angeles
Area Listing
Zoning LBR4
Interior
Fireplace No
Laundry Community Facility
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 7273013003
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© 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.
Bought with RobertStepp
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