945 Locust Avenue

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.

Listing information courtesy of: Robert Stepp, Keller Williams - Santa Monica . *Based on information from the Association of REALTORS/Multiple Listing as of 11/14/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.