Duplex with Separate
For Sale
$1,049,000
3234 Locust Ave, Long Beach, CA 90807
Both homes will be vacant at delivery, and gas and electricity are metered separately for each residence.
Property Size2,539 SF
Lot Size0.17 Acres
Price / SF$413.15
Days on Market9
Property Features for 3234 Locust Ave
General Information
Standard status
Active
Size
2,539 SF
Total Parking Spaces
4
Lot size
0.17 Acres
Property subtype
Residential Income
Site & Location
Neighborhood
North Wrigley
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
3BR/2BA, 2BR/1BA
Multifamily Units
2
Individually Metered Utilities
gas, electricity
Amenities
private entrance
laundry area
outdoor space
central air and heat
alarm system
private patio
gated front entrance with coded entry
copper plumbing
mature landscaping
Building Details
Buildings
1
Listing Agency:
Queen Bee Brokers
Listed By:
Jennifer Jaye Fraser · License #01805318
(310) 877-3800
Source:
Exprealty
Added: Oct 20
Changed: Oct 25
Last Checked: Oct 26 at 5:49PM
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 Queen Bee Brokers
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Investment Insights
Based on property information with market context.
This two-residence duplex contains 2,539 square feet on a 7,272-square-foot lot. The front home has three bedrooms and two bathrooms; the rear has two bedrooms and one bathroom. Each residence includes its own entrance, laundry area, outdoor space, central air and heat, and alarm system. The front home features a kitchen with stainless steel appliances and a double-door pantry, while the rear home has an updated kitchen and direct garage access. Four garage spaces, copper plumbing, mature landscaping, and a gated front entry add to the property’s features.
The property is in Long Beach, near shopping, dining, parks, and major freeways. Alley access is also available. The property is offered as-is and has no HOA.
The property is in Long Beach, near shopping, dining, parks, and major freeways. Alley access is also available. The property is offered as-is and has no HOA.
Key Highlights
- Two residences: a 3‑bedroom, 2‑bathroom front home and a 2‑bedroom, 1‑bathroom rear home
- 2,539 square feet on a 7,272 sq. ft. lot
- Four garage spaces, with laundry areas serving both homes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,590
Cap Rate
5.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,091,800
$1.1M
Cap Rate 7%
$779,857
$779.9K
Cap Rate 9%
$606,556
$606.6K
Market Conditions
NOI Build-Up for 2,539 SF
Gross rent
$82.3K $32.40/SF
− Vacancy
−$4.3K −$1.68/SF
EGI
$78.0K $30.72/SF
− OpEx
−$23.4K −$9.21/SF
NOI
$54.6K $21.50/SF
Area
Long Beach, CA
Vacancy
5.20%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,091,800
Cap Rate 7%
$779,857
Cap Rate 9%
$606,556
Alternative Uses
Best Use
Multifamily LT 5
$779.9K
$682.4K – $909.8K
NOI $54,590 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$693.6K
$606.9K – $809.3K
NOI $48,555 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,156 @ 7.0% cap · market cap 9.07%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,295
Businesses Nearby
Explore this area
Business Placement
Demographics for 90807, CA
32,412
Population
13,345
Households
2.4
Avg Household Size
41
Median Age
45%
College-Educated
90%
High-School Grad
4.4 sq mi
ZIP Area
7,366
Density / Sq Mi
$95,079
Median Household Income
$56,392
Median Earnings
$1,892
Median Rent
$832,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Both homes will be vacant at delivery, and gas and electricity are metered separately for each residence.
Where is this duplex located?
The property is located at 3234 Locust Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $1,049,000.
What are key features of this property?
This property features: Two residences: a 3‑bedroom, 2‑bathroom front home and a 2‑bedroom, 1‑bathroom rear home; 2,539 square feet on a 7,272 sq. ft. lot; Four garage spaces, with laundry areas serving both homes
