2161 Locust Avenue

Long Beach, CA 90806

$1,235,000
Price
5
Beds
6
Baths
2,925 Sq. Ft.
$422 / Sq. Ft.
2,925
Sq. Ft.
$422
per Sq. Ft.

Description

We are pleased to present 2161 Locust Avenue, a 5-unit investment property in Long Beach, California. This property has a 2 bedroom 1 bath house in front and the back structure has 3-1 bedroom units and 1- 2 bedroom two bathroom units. All the units have been fully renovated within the past 5 years. New electrical panels were added and there are 4 garages. The property has excellent cash flow and upside with much of the hard work already done. You don't want to miss out on this steady investment...We are pleased to present 2161 Locust Avenue, a 5-unit investment property in Long Beach, California. This property has a 2 bedroom 1 bath house in front and the back structure has 3-1 bedroom units and 1- 2 bedroom two bathroom units. All the units have been fully renovated within the past 5 years. New electrical panels were added and there are 4 garages. The property has excellent cash flow and upside with much of the hard work already done. You don't want to miss out on this steady investment opportunity.
  1. Listed by George Bustamante • DRE #01484265 • Brokerage DRE #01330395 • Coldwell Banker Commercial • 714-856-7017
  2. Listed by Christa Vessell • DRE #02058824 • Brokerage DRE #01330395 • Coldwell Banker Commercial

Property Details for 2161 Locust Avenue

Parking Spaces Total
6
Private Pool
No
Total Units
5.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
2925
Assessor Parcel Number
7208-025-011
Property Attached YN
true

Location

Listing Courtesy of Coldwell Banker Commercial, George Bustamante, DRE #01484265; Coldwell Banker Commercial, Christa Vessell, DRE #02058824
Add your commute
LISTING UPDATED: 04/24/2024 01:12 AM

Property Details for 2161 Locust Avenue

StatusActive
MLS #PW24043536
Days on Market57
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1920
Lot Size0.14 AC / 6,263 SF
CountyLos Angeles County

Location

Listing Courtesy of Coldwell Banker Commercial, George Bustamante, DRE #01484265; Coldwell Banker Commercial, Christa Vessell, DRE #02058824
Add your commute

Building Information for 2161 Locust Avenue

Stories1Residences-Year Built1920Building Size-Lot Size0.14 AC / 6,263 SF

Payment Calculator

$8,282 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,740

Property Taxes

$1,542

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2161 Locust Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $100,248
  • Gross Scheduled Income: $100,248
  • Net Operating Income: $68,976
  • Gross Multiplier: 12.3
  • Cap Rate: 5.6
  • Current Financing: Private
Expense Details
  • Operating Expense: $28,265
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $0
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $28,265
Tax / Assessment Info
  • Tax Block: C
  • Tax Tract Number: 11934
  • Tax Census Tract: 5730.02
  • Tax Lot: 11
Community / Development
Community / Development
  • Community Features: Curbs, Sidewalks, Storm Drains, Street Lights, Urban
Property / Structure Info
Interior Features
  • Laundry: No
  • Laundry Features: None
  • Heating Type: Central
  • Heating: Central
Exterior Features
  • Entry Location: Street
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: Walkstreet, Yard
  • Number Of Units: 5
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: One, Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Uncovered Spaces: 2
  • Open Other Spaces Total: 2
  • Parking Garage Spaces: 4
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Wrigley Area
  • Builders Tract Code: Wrigley Area (WR)
Unit Information
Unit 1
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 3
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,343
  • Unit Type Total Rent: $4,029
  • Unit Type Pro Forma: 1700
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,147
  • Unit Type Total Rent: $2,147
  • Unit Type Pro Forma: 2750
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,178
  • Unit Type Total Rent: $2,178
  • Unit Type Pro Forma: 2250
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 5

Property History for 2161 Locust Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2161 Locust Avenue

Taxable ValueLand$624,240Additions$707,692Total$1,331,932
Tax Record2023$18,500 ($1,542 / month)
Home Facts
Total Finished SqFt2,999 SqFtAbove Grade Finished SqFt2,999 SqFtLot Size6,261 SqFtStyleMulti-Family Res (5+ Units)Year Built1920ZoningLBR2NCountyLOS ANGELESAPN7208-025-011

Schools near 2161 Locust Avenue

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 9 to 12
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Robinson Academy
PublicK to 8

Polytechnic High School
Public9 to 12

Educational Partnership High School
Public9 to 12

Clear Passage Educational Center
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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2161 Locust Avenue is a mixed use property for sale in Long Beach, CA 90806. This property was listed for sale on March 2, 2024 by Coldwell Banker Commercial, it's currently listed at $1,235,000. It has been on the market for a total of 57 days and was last sold on March 26, 2021. This listing's school district is Long Beach Unified School District. Nearby schools include Robinson Academy, Polytechnic High School and Educational Partnership High School. 2161 Locust Avenue is a 5-bed, 6-bath, 2,925 sqft mixed use property built in 1920.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Coldwell Banker Commercial, George Bustamante, DRE #01484265; Coldwell Banker Commercial, Christa Vessell, DRE #02058824

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.