1775 Locust Ave

PRICE REDUCED - and PRICED TO SELL.

Currently a 9.1 GRM and 7.0% CAP with upside to a 8.2 GRM and 8.3% 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 9% cash on cash against in place rents, and over 14% cash on cash at market. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.

This home located at 1775 Locust Ave is currently active and has been available on pardeeproperties.com for 125 days. This property is listed at $2,075,000. It has 19 beds and 9 bathrooms. The property was built in 1962. 1775 Locust Ave is in the Downtown Area, Alamitos Beach community of County.

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