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945 Locust Avenue, Long Beach, CA 90813
$3,900,000
945 Locust Avenue, Long Beach, CA 90813View this property at 945 Locust Avenue, Long Beach, CA 90813
945 Locust AvenueLong BeachCA90813
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Property Description
945 Locust Avenue is a 16-unit apartment property in Long Beach, California, adjacent to the vibrant East Village Arts District and Downtown. The controlled-access, all-electric, separately-metered building features two (2) 2BD / 2 BA units and fourteen (14) 2BD / 1 BA units. Seven (7) of the units are fully remodeled with new flooring, kitchens, stainless steel appliances, new bathrooms and modern fixtures and finishes. Double-pane windows are installed throughout the building for additional energy efficiency. An onsite laundry / storage room can provide extra income, and the eight (8) garages offer the opportunity for ADU conversion for additional rental income. 945 Locust Avenue is priced at 11.73 GRM and 5.39% cap rate at current rents.
Full Property Details
Full Property Details for 945 Locust Ave
General
- Sold For: $3,900,000
- Status: Closed
- Type: Multi-Family
- MLS ID: PW23149053
- Added to Site: 276 day(s) ago
Rooms
Other Rooms
- Laundry: Community
Additional Information
- Pool Description: None
Parking
- Garage Spaces: 8
Location
- Area: 4 - Downtown Area, Alamitos Beach
- County: Los Angeles
- Development Name: 4 - Downtown Area, Alamitos Beach
- Driving Directions: Long Beach Blvd & E 10th St
Utilities
- Sewer: Public Sewer
- Water: Public
- # Water Meters: 1
- # Electric Meters: 16
Structural Information
- Entry Location: 1
- Square Feet: 13,054
- Year Built: 1964
Unit Information
Unit 1
- Number of Units: 14
- Total Bathrooms: 1
- Bedrooms: 2
Unit 2
- Number of Units: 2
- Total Bathrooms: 2
- Bedrooms: 2
Lot Features
- Lot Size (Acres): 0.1727
- Lot Size Source: Assessor
- Zoning: LBR4N
- Lot Description: 16-20 Units/Acre
Financial Considerations
- Price Per Sq. Ft.: $298.76
- Price Per Unit: 259375
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
Listed and Sold by Keller Williams - Santa Monica, Robert Stepp
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Schools
Schools serving 945 Locust Ave
School District:Long Beach Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
700 Locust Ave, Long Beach, CA 90813 | PK-5 | 0.2 mi | |
1450 Cedar Ave, Long Beach, CA 90813 | 6-8 | 0.5 mi | |
1600 Atlantic Ave, Long Beach, CA 90813 | 9-12 | 0.7 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 945 Locust Ave
Date
Details
Price
Change
Source
11/14/2023
Sold
$3,900,000
-6.02%
MLS
8/15/2023
Listed
$4,150,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
945 Locust Avenue, Long Beach, CA 90813 (MLS# PW23149053) is a Multi-Family property that was sold at $3,900,000 on November 14, 2023. Want to learn more about 945 Locust Avenue? Do you have questions about finding other Multi-Family real estate for sale in Long Beach? You can browse all Long Beach real estate or contact a Coldwell Banker agent to request more information.