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2073 Locust Ave #A, Long Beach, CA 90806
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2073 Locust Ave #A Long Beach, CA 90806

$1,745,000 Sold Price as of 08/15/2024
  • 12 Beds
  • 8 Baths
  • 5,954 Sq.Ft.
Sold
$1,745,000 Sold Price as of 08/15/2024 Refinance Your Mortgage
Map preview of 2073 Locust Ave #A, Long Beach, CA 90806

Property Overview: 2073 Locust Ave #A Long Beach, CA has 12 bedrooms, 8 bathrooms, 5,954 living square feet and 7,486 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: PRICED TO SELL. 9.9 GRM AND 6.4% CAP with upside to a 7.1% CAP. 8 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI. Only $290/SF. Located in the quiet residential Wrigley area, the property is professionally managed and well-maintained. Onsite laundry room. There are 5 garages in the rear, each could rent for as much as $125/garage. The Electrical Main Panel is 200 AMPS (Siemens) and the Subpanels are 50 AMPS (Siemens) - Buyer to verify. The seller spent over $175K at the time of purchase on new exterior paint, landscaping, and interior updates to units including new kitchen countertops, vinyl flooring and paint. Email Listing Agent for more info including a Rent Roll and actual expenses.

Listed by Jonathan Swire | BRE #01336277 | The Agency
Last checked: 3 minutes ago | Last updated: August 15th, 2024 | Source CRMLS | DOM: 35

Home details

Lot Sq. Ft
7,486
HOA Dues
$0/mo
Year built
1930
Garage
5 Car
Property Type:
Multi Family
Status
Sold
MLS#
24403303
City
Long Beach
County
Los Angeles
Time on Site
108 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 4
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,650
  • Total Rent: $1,695
  • Pro Forma/Market Rent: $1,695
Unit Breakdown 2
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,950
  • Total Rent: $1,995
  • Pro Forma/Market Rent: $1,995
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.4%
  • Gross Rent Multiplier: 9.95
  • Gross Scheduled Income: --
  • Net Operating Income: $116,000
  • Gross Operating Income: $174,000
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 2073 Locust Ave #A

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Community
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 5
  • # of Parking Spaces: 5
  • Has Parking
  • Parking Features: Assigned
Property Information
  • Total # of Units: 8
  • Parcel Number: 7209018010
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: 8 Units in the Wrigley area of Long Beach.
View more facts & features

Local Long Beach Agent

Sale History for 2073 Locust Ave #A

Last sold for $1,745,000 on August 15th, 2024

  • August, 2024

  • Aug 15, 2024

    Date

    Sold

    CRMLS: 24403303

    $1,745,000

    Price

  • Jun 12, 2024

    Date

    Active

    CRMLS: 24403303

    $1,729,000

    Price

  • December, 2017

  • Dec 28, 2017

    Date

    Sold

    CRMLS: PW17231084

    $1,575,000

    Price

  • Nov 20, 2017

    Date

    Pending

    CRMLS: PW17231084

    $1,575,000

    Price

  • Nov 3, 2017

    Date

    Price Change

    CRMLS: PW17231084

    $1,575,000

    Price

  • Nov 2, 2017

    Date

    Active

    CRMLS: PW17231084

    $1,645,000

    Price

  • Oct 20, 2017

    Date

    Pending

    CRMLS: PW17231084

    $1,645,000

    Price

  • Oct 16, 2017

    Date

    Active Under Contract

    CRMLS: PW17231084

    $1,645,000

    Price

  • Oct 7, 2017

    Date

    Active

    CRMLS: PW17231084

    $1,645,000

    Price

  • Listing provided courtesy of CRMLS

    We are enthusiastic to present 2073 Locust Avenue, a charming classic Spanish eight-unit building, located in the Wrigley area of Long Beach. Situated on a extra wide street with ample parking, the property exudes an old world appeal of days gone by and has been lovingly maintained by the present owners for the past 40+ years. As you approach through the front gate, one will be impressed by the quiet and peaceful garden environment with lush landscape and flowering shrubs. Surrounded by tropical, citrus and papaya trees, a lovely brick courtyard lies between the front and rear building, a perfect place for tenants to enjoy. The front building contains a combination of four two-bedroom units and two one-bedroom units with solid oak floors, some with breakfast nooks, vaulted ceilings and others featuring the original warm mahogany trim. The rear building consists of two one-bedroom units over five garages. There is also a laundry room with leased machines on site which provides additional income averaging $65/month and there is also a separate storeroom for supplies. The building foundation had been earthquake retrofitted in 2004 at significant expense, and the electrical system also has been updated. In addition, to enhance the curb appeal, the exterior trim was painted last year. This is a turn key property with long-term tenants, offering an opportunity for the astute investor to increase the rents for greater cash flow. Interior inspection with accepted offer.

  • March, 1994

  • Mar 23, 1994

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 2073 Locust Ave #A

Assessed Value (2020): $1,618,862
Year Land Value Improved Value Assessed Value
2020 $624,240 $994,622 $1,618,862

Home Value Compared to the Market

This property vs the competition

2073 Locust Ave #A sold on August 15, 2024 for 111.11% higher than the current median sold price for the city of Long Beach which is $819,000. The median sold price per/sqft for Long Beach is $628 and this home is sold at $290.39 per/sqft which puts the price per square foot 53.76% lower than the current median sale per square foot for the city of Long Beach.

About 2073 Locust Ave #A

Detailed summary of property

2073 Locust Ave #A is a multi family that recently sold in Long Beach, CA 90806. This multi family property offered 12 bedrooms, 8 bathrooms, roughly 5,954 living square feet, and sits on an approximately 7,486 square foot lot. 2073 Locust Ave #A was first listed on ArdentRealEstateGroup.com on June 12, 2024. The homeowner sold the property for $1,745,000. Home in Long Beach are selling for a median price of $819,000 and a median price per square foot of $628. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 111.11% higher than the current median priced home. Local homes that are currently for sale include 1712 Cherry Ave, 1052 E 5th St and 1052 E 5th St. While the average home in Long Beach, CA is selling in 65 days, 2073 Locust Ave #A has a days on market of 35 days. There are currently 777 homes for sale in the Long Beach real estate market and 410 of them are single family homes while 343 of them are condos and 22 are townhomes. For more information on this home for sale at 2073 Locust Ave #A Long Beach, CA 90806 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 2073 Locust Ave #A

Public county record property details
Beds
10
Baths
8
Year built
1930
Sq. Ft.
5,954
Lot Size
7,500
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
6
APN
7209-018-010

The source for these homes facts are from public records.

90806 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$770,000
Median List Price/Sq.Ft.
$543
Median Sold Price
$920,000
Median Sold Price/Sq.Ft.
$534
Total Inventory
28
Median Sale to List Price %
100%
Avg Days on Market
36
Loan Type
Conventional (100%), FHA (0%), VA (0%), Cash (0%), Other (0%)

Thinking of Selling?

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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.

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