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$1,895,000

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7,357 Sqft Lot

Active

1025 Locust AVE Long Beach, CA 90813

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Nathan King Real Estate Group

info@kingrealestate.group +1(559) 396-0000

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Key Details

Property Type Single Family Home

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Subdivision Downtown (Dt)

MLS Listing ID PW25225333

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1923

Lot Size 7,357 Sqft

Lot Dimensions Assessor

Property Sub-Type Mixed Use

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 interior 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. Recent exterior upgrades include: New common area plank flooring, New landscaping, exterior paint and trim, new garage/auto door, and concrete driveway. 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

Listed by Cameron Jacques Kinnery's Brokerage House 310-490-8134

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Nathan King Real Estate Group

Broker | License ID: 01878277

+1(559) 396-0000

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