Search
1716 Locust Ave, Long Beach, CA 90813
Image 2 for 1716 Locust Ave, Long Beach, CA 90813
Image 3 for 1716 Locust Ave, Long Beach, CA 90813
View Photos

1716 Locust Ave Long Beach, CA 90813

$1,800,000
  • 14 Beds
  • 8 Baths
  • 4,432 Sq.Ft.
For Sale
$1,800,000 Get Pre-Qualified
Map preview of 1716 Locust Ave, Long Beach, CA 90813

Property Overview: 1716 Locust Ave Long Beach, CA has 14 bedrooms, 8 bathrooms, 4,432 living square feet and 6,146 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Introducing 1716 Locust Avenue, an investment opportunity in the heart of Long Beach, California (90813). This cash-flowing gem has been maintained by current ownership since 2015. The subject property comprises Eight units, featuring a well-balanced mix of two 1-bedroom/1-bathroom units and six 2-bedroom/1-bathroom units. If your looking for a strong cash flow on day 1 with a potential 16% more upside, then look no further. This prime investment opportunity not only offers a stable income stream with a gross income of $166,920 and a solid net income of $109,175 annually but also addresses Long Beach's parking challenges. With an on-site parking, this property provides a valuable solution to the city's parking constraints. Don't miss the chance to acquire a premium property in the thriving Long Beach market, poised for both immediate returns and long-term value.

Listed by John McCann | BRE #01963932 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 15 minutes ago | Last updated: March 29th, 2024 | Source CRMLS | DOM: 40
Get a $5,400 Cash Reward New

Buy this home with Ardent Real Estate Group and get $5,400 back.

Call/Text (714) 706-1823

Home details

Lot Sq. Ft
6,146
HOA Dues
$0/mo
Year built
1963
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24371337
City
Long Beach
County
Los Angeles
Time on Site
50 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,605
  • Total Rent: $3,210
  • Pro Forma/Market Rent: $3,600
Unit Breakdown 2
  • # of Units: 6
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,783
  • Total Rent: $10,700
  • Pro Forma/Market Rent: $12,600
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.07%
  • Gross Rent Multiplier: 10.78
  • Gross Scheduled Income: --
  • Net Operating Income: $109,175
  • Gross Operating Income: $161,912
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 1716 Locust Ave

No upcoming open houses

Schedule Tour

Property Details for 1716 Locust Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 6
  • Has Parking
  • Parking Features: Private
Property Information
  • Total # of Units: 8
  • Parcel Number: 7269019035
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: From 710 Freeway, Exit PCH - East, Turn right onto Locust Ave. Property will be on your left side in between 16th street and PCH.
View more facts & features

Local Long Beach Agent

Sale History for 1716 Locust Ave

Last sold for $920,000 on May 18th, 2015

  • March, 2024

  • Mar 21, 2024

    Date

    Active

    CRMLS: 24371337

    $1,800,000

    Price

  • May, 2015

  • May 18, 2015

    Date

    Sold (Public Records)

    Public Records

    $920,000

    Price

  • October, 2011

  • Oct 24, 2011

    Date

    Sold (Public Records)

    Public Records

    $655,000

    Price

Show More

Tax History for 1716 Locust Ave

Assessed Value (2020): $1,012,200
Year Land Value Improved Value Assessed Value
2020 $329,680 $682,520 $1,012,200

Home Value Compared to the Market

This property vs the competition

1716 Locust Ave is listed 125.28% higher than the median list price for the city of Long Beach which has a median list price of $799,000. The median price per/sqft for Long Beach is $648 and this home is listed at $406.14 per/sqft which puts the price per square foot 37.32% lower than the median price per square foot for the city of Long Beach.

About 1716 Locust Ave

Detailed summary of property

1716 Locust Ave is a multi family located in Long Beach, CA 90813 and is currently for sale. This multi family property offers 14 bedrooms, 8 bathrooms, roughly 4,432 living square feet, and sits on an approximately 6,146 square foot lot. 1716 Locust Ave was first listed on ArdentRealEstateGroup.com on March 21, 2024. The homeowner is currently asking $1,800,000. The median priced home in Long Beach is $799,000 with a median price per square foot of $648. Based on Ardent Real Estate Group's Long Beach Market Data, this home is listed 125.28% higher than the median priced home. Local competing homes currently for sale include 1377 Warren Ave, 1825 Cherry Ave and 1627 W Summit St. While the average home in Long Beach, CA is selling in 51 days, 1716 Locust Ave has a days on market of 40 days. There are currently 639 homes for sale in the Long Beach real estate market and 354 of them are single family homes while 271 of them are condos and 14 are townhomes. For more information on this home for sale at 1716 Locust Ave Long Beach, CA 90813 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1716 Locust Ave

Public county record property details
Beds
8
Baths
8
Year built
1963
Sq. Ft.
4,432
Lot Size
6,144
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
1
APN
7269-019-035

The source for these homes facts are from public records.

90813 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$570,000
Median List Price/Sq.Ft.
$542
Median Sold Price
$584,000
Median Sold Price/Sq.Ft.
$592
Total Inventory
31
Median Sale to List Price %
108.35%
Avg Days on Market
23
Loan Type
Conventional (80%), FHA (10%), VA (10%), Cash (0%), Other (0%)

Tour This Home

Buy with Ardent Real Estate Group and save $5,400.

Image Description
Contact Jon
Long Beach Agent
Call, Text or Message
(714) 706-1823
Get a $5,400 Cash Reward New

Buy this home with Ardent Real Estate Group and get $5,400 back.

Call/Text (714) 706-1823

Homes for Sale Near 1716 Locust Ave

Nearby Homes for Sale

1526 Cedar Ave, Long Beach, CA 90813
$1,650,000
42 Beds
0 Baths
4464 Sq.Ft.
1526 Cedar Ave
Long Beach, CA 90813
522 E Rhea St, Long Beach, CA 90806
$1,850,000
15 Beds
7 Baths
4212 Sq.Ft.
522 E Rhea St
Long Beach, CA 90806
650 E 15th St, Long Beach, CA 90813
$1,950,000
12 Beds
4 Baths
4158 Sq.Ft.
650 E 15th St
Long Beach, CA 90813
1409 Magnolia Ave, Long Beach, CA 90813
$1,700,000
14 Beds
6 Baths
3992 Sq.Ft.
1409 Magnolia Ave
Long Beach, CA 90813
219 E 10th St, Long Beach, CA 90813
$1,750,000
6 Beds
5 Baths
4836 Sq.Ft.
219 E 10th St
Long Beach, CA 90813
2490 Chestnut Ave, Long Beach, CA 90806
$1,498,000
6 Beds
0 Baths
3014 Sq.Ft.
2490 Chestnut Ave
Long Beach, CA 90806
2490 Chestnut Ave, Long Beach, CA 90806
$1,498,000
6 Beds
2 Baths
3014 Sq.Ft.
2490 Chestnut Ave
Long Beach, CA 90806
1000 E 10th St, Long Beach, CA 90813
$1,599,000
14 Beds
7 Baths
5340 Sq.Ft.
1000 E 10th St
Long Beach, CA 90813

Recently Sold Homes Near 1716 Locust Ave

1722 Locust Ave, Long Beach, CA 90813
$998,000 Last Sold Price
4 Beds
2 Baths
2158 Sq.Ft.
1722 Locust Ave
Long Beach, CA 90813
1754 Pine Ave, Long Beach, CA 90813
$2,975,000 Last Sold Price
18 Beds
12 Baths
8532 Sq.Ft.
1754 Pine Ave
Long Beach, CA 90813
1708 Pine Ave, Long Beach, CA 90813
$3,220,000 Last Sold Price
16 Beds
16 Baths
7982 Sq.Ft.
1708 Pine Ave
Long Beach, CA 90813
1610 Locust Ave, Long Beach, CA 90813
$920,000 Last Sold Price
7 Beds
2 Baths
1478 Sq.Ft.
1610 Locust Ave
Long Beach, CA 90813

Related Resources to 1716 Locust Ave

New Listings in 90813
Popular Zip Codes
Popular Cities
Other Long Beach Resources

Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Call