1775 Locust, Long Beach CA 90813 | $2,019,000
Listing provided courtesy of Jonathan Swire of The Agency. Last updated 2025-11-10 09:11:39.000000. Listing information © 2025 SANDICOR.
PRICE REDUCED $30K - and PRICED TO SELL. Currently under a 9 GRM and 7.1% CAP with upside to under an 8 GRM and 8.4% CAP. 9 units in Long Beach. Excellent unit mix for the area. Well-maintained and professionally managed property. Property is subject to AB 1482 Rent Control (5% + CPI increase allowed). 4 garages in the rear. On-site laundry. A number of units here are rented to Section 8 and Housing Programs - rents could easily be increased based on Payment Standards for the 90813 zip code. The 4 garages in rear could potentially be converted to ADU's - Buyer to verify. Qualified Buyers can put down as little as 25% on a new loan. Earn over 10% cash on cash against in place rents, and over 15% cash on cash at market. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
More Details
0.17 Acres
2 Stories
David Piper
Call or Text: 858-525-5007
DRE# 02021985
