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    1722 Locust Avenue

    Long Beach, CA 90813
    • $998,000
    • STATUS: Active Under Contract
    • ON SITE: 47 days
    • ID#: OC20253642
    Under Contract
    UPDATED: 29 min ago
    $998,000
    • 0
      BEDS
    • 0.28
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,158
      SQFT
    • $462
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1929
    County:

    School Ratings & Info

    Description

    Currently, the real estate consists of a classic 1929 Spanish-Style duplex, that has Two (2) 2 Bedroom / 1 Bath Townhouses, and a HUGE expanse of land in the rear that has alley access. With new developments surrounding the property, this complex is in the path of progress, and is just one block to the Light Rail Blue Line, as well as Class A Apartment developments. Recently Re-Zoned (SP1 - Midtown Specific Plan), the site allows for Residential, and/or Commercial Use, with the potential for 15-40 Units. Currently, the owner has preliminary drawings for a 25 Unit project. Whether you add value by fixing up the Duplex to its original charm, while also creating utilizing the back lot, or building additional units, this site offers tremendous upside!

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-01-25T11:25:34.917. This information 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. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or My Home Group. Licensed in the State of California, USA.

    www.mycahomesearch.com/homes/112470863
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    1722 Locust Avenue Long Beach, CA 90813

    • Price: $998,000
    • Status: Active Under Contract
    • Updated: 29 min ago
    • ID#: OC20253642
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.28
    Acres
    2,158
    SQFT
    $462
    $/SQFT
    1929
    Built
    Neighborhood:
    Other (Othr)
    County:
    Los Angeles
    Area:
    9 - Poly High
    Property Description
    Currently, the real estate consists of a classic 1929 Spanish-Style duplex, that has Two (2) 2 Bedroom / 1 Bath Townhouses, and a HUGE expanse of land in the rear that has alley access. With new developments surrounding the property, this complex is in the path of progress, and is just one block to the Light Rail Blue Line, as well as Class A Apartment developments. Recently Re-Zoned (SP1 - Midtown Specific Plan), the site allows for Residential, and/or Commercial Use, with the potential for 15-40 Units. Currently, the owner has preliminary drawings for a 25 Unit project. Whether you add value by fixing up the Duplex to its original charm, while also creating utilizing the back lot, or building additional units, this site offers tremendous upside!
    Exterior Features

    Garage Spaces 0.00 Lot Features Back Yard Lot Size Source Assessor Lot Size Units Square Feet Parking Total 4.00 Pool Features None Pool Private YN No Property Attached YN Yes Uncovered Spaces 4.00

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 1 Common Wall Laundry Features None

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Community Features Sidewalks Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 27936.00 Gross Scheduled Income 28800.00 Insurance Expense 1600.00 Land Lease YN No Laundry YN No Net Operating Income 9781.00 New Construction YN No New Taxes Expense 12595.00 Number Of Separate Electric Meters 2 Number Of Separate Gas Meters 2 Number Of Separate Water Meters 1 Operating Expense 18155.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions StandardTrust Subdivision Name Other Corridor District Total Expenses 18155.00 Trash Expense 0.00 Water Sewer Expense 960.00 Water Source Public Year Built Source Public Records Zoning Lbpd29

    Listing provided courtesy of Pat Swanson of Pat Swanson


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-01-25T11:25:34.917. This information 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. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or My Home Group. Licensed in the State of California, USA.

     
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