UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision North Long Beach (Nlb)
MLS Listing ID DW26017371
HOA Y/N No
Year Built 1924
Lot Size 7,422 Sqft
Property Sub-Type Apartment
Property Description
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 currently produces approximately $167,000 in annual gross income with clear upside potential. Rents have not been increased within the past year, allowing a new owner to implement a rent increase of up to 8.9%, in accordance with current Long Beach rent control regulations.
The property is offered as-is. Buyers and buyers' agents are responsible for conducting their own due diligence regarding physical condition, financials, and legal compliance. Seller intends to complete a 1031 exchange at no cost to the buyer.
Location
State CA
County Los Angeles
Area 7 - North Long Beach
Interior
Heating Natural Gas
Fireplaces Type None
Fireplace No
Laundry None
Exterior
Parking Features None
Pool None
Community Features Urban
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected
View Y/N No
View None
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7269018015
Acceptable Financing Cash, Conventional, Contract
Listing Terms Cash, Conventional, Contract
Special Listing Condition Standard
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Los Cerritos Elementary School
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Signal Hill Elementary School
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Alvarado Elementary School
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Muir Academy
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Chavez Elementary School
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Birney Elementary School
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Lafayette Elementary School
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Robert Louis Stevenson Elementary School
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Longfellow Elementary School
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Lincoln Elementary School
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Garfield Elementary School
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Robinson K - 8 Academy
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Roosevelt Elementary School
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Mann Elementary School
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Elizabeth Beth Hudson K - 8 School
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Daniel Webster Elementary School
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Oropeza Elementary School
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Smith Elementary School
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Burbank Elementary School
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Nieto Herrera Elementary School
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Intellectual Virtues Academy of Long Beach
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Hughes Middle School
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Franklin Classical Middle School
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Jessie E. Nelson Academy
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Stephens Middle School
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Washington Middle School
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Jefferson Leadership Academies
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Regency High School
Private | 7 - 12
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Renaissance High School for the Arts
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Polytechnic High School
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Cabrillo High School
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Beach High-Intensive Learning Program
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Reid High School
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St Anthony High School
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Long Beach Unified School District Regional Occupational Program
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