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$1,699,000

Beds
Unknown
sq ft
Unknown

1013 Locust Ave, Long Beach, CA 90813

1013 Locust Ave

Long Beach, CA 90813

  • 205 days on market
    • Price drop $10,000↓
This is the high cash flow turn key multi-family you have been looking for! Every one of these units have been beautifully remodeled and all have their own private laundry! The rear building has had extensive updates and consist of 4 units offering refinished hardwood floors in some units while others have new water resistant laminate. Other upgrade includes new bathrooms, upgraded plumbing, lovely updated vintage kitchens loads of storage, mud rooms with rear exits and each with their own private laundry hook ups, new light fixtures, stainless appliances installed and much more! All located on a huge lot with large common area for tenants. The front duplex is stunning with a huge owner's unit that is absolutely incredible!! Offering soaring coved ceilings, stunning formal dining room with grand bay window and original huge with pocket doors! The gigantic formal living/family room has to bee seen with faux fireplace with all original built in book shelves. There is even a grand formal entry, gorgeous kitchen that is stunning to say the least with solid surface counter tops, amazing light fixtures offering many new upgrades but some original built-in cabinets remain. There are 2 bedrooms one leading out to a really cool private side patio exclusive to the unit and the other bedroom is on the second floor with an enormous walk in closet with access to an huge attic space and 1.5 baths total! The main floor bathroom is enormous and has been fully remodeled. The duplex has a new roof installed and the rear 4 unit has had white coating with a 5 year warranty for added heat prevention. There is a 1 stall detached garage currently used as storage that has the preliminary approval for an ADU conversion, and the finished plans will be provided to the Buyer! Also, the very unique PD-30 zoning on this particular property could allow you to possibly add MANY more units in the future! (Buyer to verify independently) Truly the possibilities are endless or keep it as it is making great cash flow! All units are separately metered for gas and electric. (All photos were taken after remodel and before tenants moved in, condition may vary)

Details

Property type

Apartment

Est. home value

$1,445,016

Property condition

Updated/Remodeled

Lot size

7,526 sq ft

Price per sq ft

Unknown

Year built

1905

Price History

12/05/2024
CRMLS

CRMLS #PW24110123

Price change
$1,699,000
-0.59%
09/05/2024
CRMLS

CRMLS #PW24110123

Removed
$1,709,000
08/11/2024
CRMLS

CRMLS #PW24110123

Price change
$1,709,000
-0.58%

Schools & Community

Neighborhood: 

Willmore City

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Curbs, Street Lights, Sidewalks

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Asp 401K Profit Sharing Plan

Loan start date

June 2022

Original loan amount

$1,180,000

Est. remaining balance

Not provided

Interest rate

5.27%

Loan type

Commercial

Seller

Coastal Ranch Group Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 12/22/2024 at 8:45 AM

Listing updated: 12/04/2024 at 6:01 PM

Listed by: Shawn Mohler, The Mohler Real Estate Group Phone #: (562) 505-7953

MLS: CRMLS #PW24110123

CRMLS logo

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