CA > Long Beach > Downtown (Dt)
Long Beach, CA 90813,1025 Locust AVE
Long Beach, CA 90813,1025 Locust AVE
Long Beach, CA 90813,1025 Locust AVE
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Terrance Scotton, Broker Associate

Terrance Scotton, Broker Associate

+1(626) 788-9299
$2,000,000
Est. payment /mo
7,357 Sqft Lot
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UPDATED:

11/15/2024 09:12 PM

Key Details

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Subdivision Downtown (Dt)

MLS Listing ID PW24230683

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1920

Lot Size 7,357 Sqft

Lot Dimensions Assessor

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 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. 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

Area 4 - Downtown Area, Alamitos Beach

Zoning LBR4N

Interior

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

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Flooring Carpet, Tile, Vinyl, Wood

Fireplaces Type Family Room

Fireplace Yes

Appliance Gas Cooktop, Gas Oven, Gas Range, Microwave, Refrigerator

Laundry None

Exterior

Garage Spaces 4.0

Garage Description 4.0

Fence Wood

Pool None

Community Features Biking, Curbs, Golf, Gutter(s), Park, Street Lights, Suburban, Sidewalks, Water Sports

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

View Y/N Yes

View Neighborhood

Roof Type Composition,Flat

Total Parking Spaces 4

Private Pool No

Building

Lot Description Back Yard, Rectangular Lot, Walkstreet, Yard

Story 2

Foundation Raised

Sewer Public Sewer

Water Public

Architectural Style Cape Cod

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 7273006014

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Cameron Jacques • Kinnery's Brokerage House • 310-490-8134

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Terrance Scotton, Broker Associate

+1(626) 788-9299

Broker Associate | License ID: 01707848 NMLS: 908256

Broker Associate License ID: 01707848 NMLS: 908256

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