We are proud to present 2015 Locust Avenue, a four-unit multifamily property located in the Wrigley neighborhood of Long Beach. Just north of Downtown and minutes from the 710 and 405 freeways, Wrigley offers residents convenient access to major employment centers, Long Beach City College, and the Metro A Line… Read More light rail. The neighborhood’s central location and strong rental demand make this asset ideal for investors seeking stability and long-term appreciation in a growing Long Beach submarket. Situated on a 4,750 SF lot, the property offers 3,199 SF of rentable space and features a desirable unit mix of one (1) three-bedroom, one-bath unit; one (1) two-bedroom, one-bath unit; and two (2) one-bedroom, one-bath units—one of which is currently vacant, providing immediate upside. Significant recent upgrades include exterior paint, new roof and gutters, garage doors, staircase rebuild, and one fully renovated unit in 2025. Additional improvements in prior years include new windows, plumbing updates, tankless water heaters, new fencing, and full or partial renovations of three other units, minimizing future capex needs for a new owner. 2015 Locust Avenue is an ideal opportunity for an investor to acquire a turnkey asset with strong in-place income of $104,820 per year and clear value-add potential. The vacant one-bedroom unit offers immediate lease-up upside, while below-market rents in the occupied units present a path for long-term growth. An on-site laundry room—currently not in use—offers a simple way to add tenant convenience and generate additional monthly income. This is a well-located, income-producing asset poised to perform in one of Long Beach’s most accessible submarkets. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., Christopher Van Vuuren 714-655-0098
Listing Snapshot
Days Online
6
Last Updated
Property Type
Quadruplex
Lot Size
0.11 Acres
Year Built
1937
MLS Number
SB25149560
30 Days Snapshot Of 90806
$627k
-20%
(avg) sold price
5
-16%
homes sold
82
+105%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1937, Building area total: 3,199, Levels: Two, 2 stories, 1 building, Common walls: NoCommonWalls
Community
Sidewalks
Expenses
Insurance expense: $3,199, Maintenance expense: $3,000, New taxes expense: $16,978, Operating expense: $26,782, Water sewer expense: $2,520, Other expense: $1,084
Garage
2 spaces
Income
Gross income: $104,220, Net operating income: $77,438
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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