1922 Locust Ave
Multifamily | 7.25% CAP | 8 Units
Marketing description
We are proud to present 1922 Locust Avenue, an 8-unit apartment building located in the South Wrigley submarket of Long Beach. This asset is currently operating at a 7.25% Cap Rate and a 9.59 GRM! Priced at just $212k/unit, this investment offers a compelling mix of immediate cash flow and long-term upside in a rapidly developing market.
The property is comprised of (8) 1-Bed/1-Bath units, with five recently remodeled. Three units are currently vacant and rent-ready, offering the perfect opportunity for an owner-user or investor to quickly add value.
Situated just outside the booming Downtown Long Beach core, 1922 Locust Ave is primed to benefit from over $6 Billion in local investment, including transformational projects like the Long Beach Civic Center, Queen Mary Island, CSULB Downtown Village, Broadway Block, and the Ocean Aire Development.
Investment highlights
- Current 7.25% Cap Rate and 9.59 GRM
- Priced at only $212,500/Unit
- Comprised of (8) 1Bed+1Bath units
- 5 units remodeled; 4 units are vacant and rent-ready
- Perfect opportunity for any investor looking for a low-basis deal with great cash flow
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