Great opportunity to own a Beautiful, Cash Flowing 4-plex at 2115 Locust Ave., Long Beach. Located in South Wrigley, the asset is a great owner/user opportunity with a House in the front and (3) Units in the back.
Locust Ave. has a very strong unit mix, being comprised of (1) 3-Bedroom/2 Bath, (2) 2-bedroom/1-bath, & (1) 1-Bedroom/1-bath units. A very rare commodity in Long Beach, the property has (5) garages on site conveniently located for all tenants, as well as an opportunity for extra income for owners. This massive 4-plex accounts for 4,158 Sq.Ft, and sits on a 6,245 Sq.Ft lot. With the 3-Bed House rented with top of the market rents, the property would be operating at a 5.57% Cap and 12.65 GRM! 2115 Locust is also separately metered for gas and electric.
With $6B in development flowing into the city, Long Beach has continued to rise as a top beach community. This is a perfect opportunity for any buyer looking to own cash flowing asset with upside.
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Data last updated: Aug 03, 2020 10:36am
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