2161 Locust Ave, Long Beach, CA 90806
5 Unit Apartment Building | $1,235,000 ($247,000/Unit) | 5.59% Cap Rate | Long Beach, CA 90806
For Sale
Active
6 pictures
Asking Price $1,235,000
- Property Type
-
Multifamily
- Square Feet
- 2,925 SF
Listing Contacts
George Bustamante
Property Overview
We are delighted to introduce Obispo Avenue, an exquisite 6-unit apartment complex situated in the heart of East Side Long Beach. This exceptional property comprises of five (5) generously proportioned one-bedroom units and one (1) spacious two-bedroom unit with a laundry facility on site. The property is individually metered for electric and gas. Some of the units have modern amenities, including gas stoves, elegant wood flooring, stunning granite countertops, ceiling fans, wall heaters, and stainless-steel sinks. Investors looking for value add this property has four spacious enclosed garages, providing potential ADU’s to increase value of the property. With approximately 25% upside in rents, this is an ideal investment opportunity.
Property Details
- Class
- C
- Year Built
- 1920
- Stories
- 2
- Lot Size (sq. ft)
- 6,098 SF
- Units
- 5
Highlights
- Updated electrical
- 4 garages for extra income
- Upside on rents
- Separately metered for electric and gas utilities
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