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2137 Locust Ave, Long Beach, CA 90806
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2137 Locust Ave Long Beach, CA 90806

$1,170,000 Sold Price as of 02/16/2024
  • 6 Beds
  • 4 Baths
  • 2,694 Sq.Ft.
Sold
$1,170,000 Sold Price as of 02/16/2024 Refinance Your Mortgage
Map preview of 2137 Locust Ave, Long Beach, CA 90806

Property Overview: 2137 Locust Ave Long Beach, CA has 6 bedrooms, 4 bathrooms, 2,694 living square feet and 6,254 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present 2137 Locust Avenue, a 4-unit investment property in Long Beach, California. This property has a BRAND NEW roof, new foundation for the front 3 bedroom house. The back structure has three 1 bedroom units. All four units are fully renovated. The property can be delivered with the front house vacant which makes for a PERFECT owner user or investment property. The property has excellent cash flow and upside with all the hard work already done. You don't want to miss out on this.

Listed by Jonathan Weir | BRE #02038545 | Marcus & Millichap
Last checked: 54 seconds ago | Last updated: February 20th, 2024 | Source CRMLS | DOM: 64

Home details

Lot Sq. Ft
6,254
HOA Dues
$0/mo
Year built
1956
Garage
4 Car
Property Type:
Multi Family
Status
Sold
MLS#
23332055
City
Long Beach
County
Los Angeles
Time on Site
188 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 3
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,741
  • Total Rent: $1,741
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,280
  • Total Rent: $2,280
  • Pro Forma/Market Rent: $3,350
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.4%
  • Gross Rent Multiplier: 12.94
  • Gross Scheduled Income: --
  • Net Operating Income: $62,871
  • Gross Operating Income: $90,024
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 2137 Locust Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
  • Refrigerator
Interior Features
  • Levels: One
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 4
  • # of Parking Spaces: 4
  • Has Parking
  • Parking Features: Garage - Single Door
Property Information
  • Total # of Units: 4
  • Parcel Number: 7208025020
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Locust Ave & E Hill St
View more facts & features

Local Long Beach Agent

Sale History for 2137 Locust Ave

Last sold for $1,170,000 on February 16th, 2024

  • February, 2024

  • Feb 16, 2024

    Date

    Sold

    CRMLS: 23332055

    $1,170,000

    Price

  • Nov 13, 2023

    Date

    Active

    CRMLS: 23332055

    $1,165,000

    Price

  • August, 2023

  • Aug 22, 2023

    Date

    Canceled

    CRMLS: 23234253

    $1,200,000

    Price

  • Jan 19, 2023

    Date

    Active

    CRMLS: 23234253

    $1,200,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to present 2137 Locust Avenue, a 4-unit investment property in Long Beach, California. The property is located between Pacific Avenue and Long Beach Boulevard just minutes from Downtown Long Beach. This area is a solid majority-renter market with low vacancy rates. 2137 Locust Avenue consists of one 3 bedroom 1 bathroom unit and three 1bedroom 1 bathroom units. All of the units are separately metered for gas and electricity. The property also offers two single car garages. This offering presents a great opportunity for an investor to acquire an asset with steady cash flow in a strong rental market and capture potential upside in rents.

  • April, 2017

  • Apr 18, 2017

    Date

    Sold (Public Records)

    Public Records

    $710,000

    Price

  • August, 2015

  • Aug 11, 2015

    Date

    Sold (Public Records)

    Public Records

    $569,000

    Price

  • November, 2013

  • Nov 19, 2013

    Date

    Price Change

    CRMLS: DW13234244

    $579,999

    Price

  • Listing provided courtesy of CRMLS

    Perfectly situated 4-Plex near South Wrigley Area of Long Beach and near Poly High. These units have a great lay out featuring a 2 bedroom 1 bath home in the front separate to the back units. The 3 back units are all 1 bedroom 1 bath each and have garages as well. The lay out and overall condition is what sets these units apart. These units are ideal for investors looking for good tenants and stable rental income or possibly an owner occupied buyer. Don't hesitate.

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Tax History for 2137 Locust Ave

Assessed Value (2020): $1,032,597
Year Land Value Improved Value Assessed Value
2020 $312,120 $720,477 $1,032,597

Home Value Compared to the Market

This property vs the competition

2137 Locust Ave sold on February 16, 2024 for 45.62% higher than the current median sold price for the city of Long Beach which is $800,000. The median sold price per/sqft for Long Beach is $632 and this home is sold at $432.44 per/sqft which puts the price per square foot 31.58% lower than the current median sale per square foot for the city of Long Beach.

About 2137 Locust Ave

Detailed summary of property

2137 Locust Ave is a multi family that recently sold in Long Beach, CA 90806. This multi family property offered 6 bedrooms, 4 bathrooms, roughly 2,694 living square feet, and sits on an approximately 6,254 square foot lot. 2137 Locust Ave was first listed on ArdentRealEstateGroup.com on November 15, 2023. The homeowner sold the property for $1,170,000. Home in Long Beach are selling for a median price of $800,000 and a median price per square foot of $632. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 45.62% higher than the current median priced home. Local homes that are currently for sale include 1615 Cherry Ave, 1562 W 31st St and 1562 W 31st St. While the average home in Long Beach, CA is selling in 52 days, 2137 Locust Ave has a days on market of 64 days. There are currently 647 homes for sale in the Long Beach real estate market and 369 of them are single family homes while 262 of them are condos and 16 are townhomes. For more information on this home for sale at 2137 Locust Ave 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 2137 Locust Ave

Public county record property details
Beds
5
Baths
4
Year built
1956
Sq. Ft.
2,694
Lot Size
6,253
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
8
APN
7208-025-020

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
$795,000
Median List Price/Sq.Ft.
$589
Median Sold Price
$600,000
Median Sold Price/Sq.Ft.
$641
Total Inventory
14
Median Sale to List Price %
101.69%
Avg Days on Market
16
Loan Type
Conventional (55.56%), FHA (11.11%), VA (0%), Cash (0%), Other (33.33%)

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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