Multifamily Income Property with
1640 Locust Long Beach, CA 90813
For Sale
Contact for pricing
Well-maintained multifamily with partially replaced roof, copper plumbing, updated electrical, and new water heaters.
Days on Market183
Property Features for 1640 Locust
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Listing Agency:
Excellence Premier Real Estate
(714) 462-8380
Listed By:
Hernan Hernandez · License #CA 01161183
Source:
Crexi
Added: Jan 24
Changed: Jul 22
Last Checked: Jul 25 at 2:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Excellence Premier Real Estate
Investment Insights
Based on property information with market context.
This multifamily investment property is offered as-is and features a favorable unit mix with a stable base of long-term tenants. The ownership has completed multiple capital improvements, including a partially replaced roof (approximately two years old), copper plumbing, updated electrical systems, and new water heaters. Select units at 1642 Locust (Units B, C, and D) have gas and electricity expenses paid by the owner.
The property is located near downtown Long Beach, providing immediate access to the 710 Freeway, along with access to public transportation. It is approximately 1.3 miles from the coastline.
The property currently produces approximately $167,000 in annual gross income. Rents have not been increased within the past year, which may allow a new owner to implement a rent increase of up to 8.9% in accordance with current Long Beach rent control regulations. The seller intends to complete a 1031 exchange at no cost to the buyer, and buyers are responsible for conducting their own due diligence regarding physical condition, financials, and legal compliance.
The property is located near downtown Long Beach, providing immediate access to the 710 Freeway, along with access to public transportation. It is approximately 1.3 miles from the coastline.
The property currently produces approximately $167,000 in annual gross income. Rents have not been increased within the past year, which may allow a new owner to implement a rent increase of up to 8.9% in accordance with current Long Beach rent control regulations. The seller intends to complete a 1031 exchange at no cost to the buyer, and buyers are responsible for conducting their own due diligence regarding physical condition, financials, and legal compliance.
Key Highlights
- Well‑maintained multifamily with stable long‑term tenant base and favorable unit mix
- Approximately $167,000 in annual gross income
- Capital improvements include a partially replaced roof (about 2 years old), copper plumbing, updated electrical, and new water heaters
Property Analytics
Location Intelligence
Current Use by Public Records
Multifamily properties
FAQs
What type of property is this?
Multifamily property - Well-maintained multifamily with partially replaced roof, copper plumbing, updated electrical, and new water heaters.
Where is this multifamily property located?
The property is located at 1640 Locust Long Beach, CA.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: Well‑maintained multifamily with stable long‑term tenant base and favorable unit mix; Approximately $167,000 in annual gross income; Capital improvements include a partially replaced roof (about 2 years old), copper plumbing, updated electrical, and new water heaters
