2073 Locust Avenue,  Long Beach CA, 90806 (Residential Income)

Status: Pending
MLS#: PW17231084
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Last Updated: 10/23/2017 8:33 AM
Description for 2073 Locust Avenue Long Beach, CA 90806
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.
Price
$1,645,000
Los Angeles
PW17231084
Pending
Description
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.
Listing Information
Property Type: Cluster, Other
0.17 Acres 7,500 sq.ft. $276.28
1930 Yes- 5 spaces
8 Total
Neighborhood
Room Information
Common, Dryer Connection
Exterior / Lot Features
5 Garage Spaces, 5 Parking Spaces
None
No Pool
LBR3T
Suburban
Driving Directions
20th and Long Beach Blvd.
Financial Considerations
7209018010
$89,940
Listing Price History

Long Beach Real Estate

Long Beach is located in California. Long Beach, California 90806 has a population of 474,140.

The median household income in Long Beach, California 90806 is $52,944. The median household income for the surrounding county is $55,870 compared to the national median of $53,482. The median age of people living in Long Beach 90806 is 34 years.

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Courtesy: Thomas Winn - Long Beach Invest. Prop. Thomas Winn
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