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.
Property Details
Property Features
Property Information:
Year Built: 1963
Stories: 2
Living Area: 4,432 SqFt
Listing Office:
Office Name: Lyon Stahl Investment Real Estate, Inc.
Office Phone: (310) 425-9838
Listing Agent: John McCann
Interior Features
Bedroom and Bathroom Information:
Total Bedroom Count: 14
Exterior Features
Parking Information:
Parking: Private
Lot Features
Lot Information:
Lot Size: 0.14 Acres
Utilities
Utilities Information:
Heating: Wall Furnace
Cooling: None
Other
Directions 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.
Price Information
Listing Price Info
Price Summary:
List Price: $1,800,000
Price Per SqFt: $406/SqFt
Tax Information:
Annual Amount: $13,490
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Long Beach, CA.
This property is $1.0M more than the Median Sold Price and $207/SqFt less than other homes in Long Beach, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24371337
Listing Office:
Office Name: Lyon Stahl Investment Real Estate, Inc.
Office Phone: (310) 425-9838
Listing Agent: John McCann
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 4/28/2024, 8:25:19 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
May 18, 2015
May 18, 2015Home Sold
$920,000
Oct 24, 2011
Oct 24, 2011Home Sold
$655,000
Apr 13, 2006
Apr 13, 2006Home Sold
$790,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$13,490
$1,022,673
2020
$13,297
$1,011,020
2019
$12,908
$991,197
2018
$12,771
$971,763
2017
$12,771
$952,710
History based on county public records data.
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NMLS#3030
Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
5
/10
Burnett Elementary School
565 E Hill St
Distance between this listing and this school0.69 miles
Public District Grades KG-5
5
/10
International Elementary School
700 Locust Ave
Distance between this listing and this school0.91 miles
Public District Grades KG-5
5
/10
Lafayette Elementary School
2445 Chestnut Ave
Distance between this listing and this school0.97 miles
Public District Grades KG-5
Nearby Schools
3
/10
Washington Middle School
1450 Cedar Ave
Distance between this listing and this school0.33 miles
Public District Grades 6-8
6
/10
Franklin Classical Middle School
540 Cerritos Ave
Distance between this listing and this school1.26 miles
Public District Grades 6-8
4
/10
Jessie Nelson Academy
1951 Cherry Ave
Distance between this listing and this school1.31 miles
Public District Grades 6-8
Nearby Schools
5
/10
Polytechnic High School
1600 Atlantic Ave
Distance between this listing and this school0.40 miles
Public Magnet Grades 9-12
4
/10
Renaissance High School For The Arts
235 E 8th St
Distance between this listing and this school0.80 miles
Public Magnet Grades 9-12
2
/10
Cabrillo High School
2001 Santa Fe Ave
Distance between this listing and this school1.49 miles
The neighbors living near this home have an average income of $32,300. Residents of Long Beach, CA typically earn less than $35k each year. Most families are married, with kids. Typical level of education for residents in this area is high school diploma.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 1716 Locust Ave
What is the listing price of this property?
The listing price of 1716 Locust Ave property is $1,800,000.
What type of property is this?
The property 1716 Locust Ave is a house located in Long Beach, California, 90813.
Is this property for sale now?
Active Listing: 1716 Locust Ave is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $13,490 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on May 18, 2015 for $920,000. (source: MLS/tax record).
How many bedrooms and bathrooms does this property have?
The property at 1716 Locust Ave has 14 bedrooms and 8 bathrooms.
What is the square footage of this property?
The property 1716 Locust Ave is 4,432 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 1716 Locust Ave is 1963.
This home is located at 1716 Locust Ave in Long Beach, CA and zip code 90813 in the The Harbor neighborhood. This 4,432 square foot home, which was built in 1963, sits on a 0.14 acre lot. Features: 14 bedrooms, 8 bathrooms. It has been listed on Rocket Homes since March 21, 2024 and is currently priced at $1,800,000.
While more than 76 listings in Long Beach, CA in March 2024 were sold above asking price, there were more than 39 listings sold at asking price, and more than 59 were sold below. Between February 2024 and March 2024, Long Beach, CA real estate market has seen increase in the number of listings by 1.8%. In March 2024 median list price was $790,000 and the average listing age was 31 days.
From Rocket Homes Real Estate and based on county public records data.