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.
Sold for $3,900,000
Listing Provided by:
Robert Stepp DRE #01456379 310-774-3740,
Keller Williams - Santa Monica
Bought with: Keller Williams - Santa Monica
$3,900,000
945 Locust Ave, Long Beach, CA 90813
32beds
18baths
13,054sqft
Mixed Use
Built in 1964
-- sqft lot
$4,136,000 Zestimate®
$299/sqft
$1,905 Estimated rent
Home value
$4,136,000
$3.68M - $4.72M
$1,905/mo
Zestimate® history
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$24,900/mo
Est. payment
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Est. payment
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Zillow last checked: 7 hours ago
Listing updated: November 14, 2023 at 04:25pm
Listing Provided by:
Robert Stepp DRE #01456379 310-774-3740,
Keller Williams - Santa Monica
Bought with:
Robert Stepp, DRE #01456379
Keller Williams - Santa Monica
Source: CRMLS,MLS#: PW23149053
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 32
- Bathrooms: 18
Appliances
- Laundry: Common Area
Features
- Common walls with other units/homes: 2+ Common Walls
Interior area
- Total structure area: 13,054
- Total interior livable area: 13,054 sqft
Property
Parking
- Total spaces: 8
- Parking features: Garage
- Garage spaces: 8
Features
- Entry location: 1
- Pool features: None
Lot
- Size: 7,521 sqft
- Features: 16-20 Units/Acre
Details
- Parcel number: 7273013003
- Zoning: LBR4N
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Mixed Use
- Attached to another structure: Yes
Condition
- New construction: No
- Year built: 1964
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Community
- Community features: Sidewalks
Location
- Region: Long Beach
- Subdivision: Downtown (Dt)
Other
Other facts
- Listing terms: Cash,Cash to New Loan,1031 Exchange
Price history
| Date | Event | Price |
|---|---|---|
| 11/14/2023 | Sold | $3,900,000+4%$299/sqft |
Source:  CRMLS #PW23149053 Report a problem | ||
| 2/9/2020 | Listing removed | $1,795 |
Source: Entourage Property Management Report a problem | ||
| 2/6/2020 | Listed for rent | $1,795+12.5% |
Source: Entourage Property Management Report a problem | ||
| 4/27/2019 | Listing removed | $1,595 |
Source: Entourage Property Management Report a problem | ||
| 4/12/2019 | Listed for rent | $1,595-11.1% |
Source: Entourage Property Management Report a problem | ||
Public tax history
Tax history is unavailable.
Neighborhood: Willmore City
Nearby schools
GreatSchools rating
- 5/10International Elementary SchoolGrades: K-5Distance: 0.2 mi
- 4/10Washington Middle SchoolGrades: 6-8Distance: 0.5 mi
- 7/10Polytechnic High SchoolGrades: 9-12Distance: 0.7 mi
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Estimated market value
$4,136,000
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$4,136,000
- California
- Los Angeles County
- Long Beach
- 90813
- Willmore City
- 945 Locust Ave