Property Details
About this Property
Attractive multifamily investment opportunity featuring a well-maintained asset with a stable base of long-term tenants and a favorable unit mix. The property is strategically located near downtown Long Beach, offering immediate access to the 710 Freeway, public transportation, and is approximately 1.3 miles from the coastline. 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.
MLS Listing Information
MLS #
CRDW26017371
MLS Source
California Regional MLS
Days on Site
1
Interior Features
Laundry
None
Heating
Gas
Parking, School, and Other Information
Garage/Parking
No Parking, Garage: 0 Car(s)
HOA Fee
$0
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 4 | 7 | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
1640 Locust is a Residential Income in Long Beach, CA 90813. This – square foot property sits on a 7,423 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $1,895,000 and was built in 1924. This address can also be written as 1640 Locust, Long Beach, CA 90813.
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This listing information is up-to-date as of January 24, 2026. For the most current information, please contact Hernan Hernandez, (562) 228-8811
