Jon Swire 3109482631

2018 Locust Ave

13 Unit Block of Flats £2,116,895 (£162,838/Unit) 5.60% Net Initial Yield Long Beach, CA 90806

INVESTMENT HIGHLIGHTS

Only $249/SF.
Excellent unit mix on a quiet tree lined street.
8.7 GRM and 7.5% CAP at market rents. No local Rent Control.

Over 20% Rental Upside - Excellent Value Add Opportunity.
EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.

EXECUTIVE SUMMARY

$150K PRICE REDUCTION - BRING ALL OFFERS - SELLER IS MOTIVATED.
Huge Value Add Opportunity - 20%+ rental upside. PRICED TO SELL - ONLY $236/SF. 13 units located in the Wrigley area of Long Beach subject to AB 1482 Rent Control (5% + CPI increases). Excellent unit mix for the area with onsite laundry and parking. 8.7 GRM and 7.5% CAP at market rents.
Property features 3 open parking spaces in the rear as well as 4 garages. There are also 2 covered garages in the front - possible ADU conversion - buyer to verify. Each unit also features its own private balcony space.
EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.

FINANCIAL SUMMARY (ACTUAL - 2024)	ANNUAL	ANNUAL PER SF
Gross Rental Income	£192,515	£16.56
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	£192,515	£16.56
Net Operating Income	-	-

PROPERTY FACTS

Price	£2,116,895
Price Per Unit	£162,838
Sale Type	Investment
Net Initial Yield	5.60%
Gross Rent Multiplier	10.6
No. Units	13
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.30 AC
Building Size	11,626 SF
Average Occupancy	100%
Number of Floors	2
Year Built	1963
Parking Ratio	0.85/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

UNIT AMENITIES

Air Conditioning
Heating
Kitchen

Oven
Tub/Shower
Pantry

SITE AMENITIES

24 Hour Access
Controlled Access
Laundry Facilities

Tenant Controlled HVAC
Recycling
Smoke Detector

UNIT MIX INFORMATION

DESCRIPTION	NO. UNITS	Avg. Rent.Mo	SF
1+1	10	-	600
2+2	2	-	750
4+2	1	-	1,100

Walk Score®

Very Walkable (82)

Bike Score®

Very Bikeable (75)

PROPERTY TAXES

Parcel Number	7209-013-029	Improvements Assessment	£1,488,599
Land Assessment	£826,999	Total Assessment	£2,315,598

ZONING

Zoning Code

Map of 2018 Locust Ave Long Beach, CA 90806

ADDITIONAL PHOTOS

20250203_101142

Plat Map

20250203_101159

20250203_101210

20250203_101217

20250203_101255

20250203_101315

20250203_101335

Listing ID: 34804263
Date on Market: 12/02/2025
Last Updated: 16/03/2025
Address: 2018 Locust Ave, Long Beach, CA 90806

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