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1640 Locust
For Sale $1,895,000
$1,895,000
- Unknown Bedrooms
- Unknown Bathrooms
- Unknown Sq Ft
- 7,423 Sq Ft
Description
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.
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $1,895,000 |
| Property Type | Condo/Co-Op |
| Usable Sqft | Unknown |
| Number of Stories | 2 stories |
| Parking Spots | 0 spots |
| Year Built | 1924 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| HOA Fees: | $0 |
| Association Name: | Unknown |
| Association Amenities: | Unknown |
| APN # | 7269018015 |
| MLS # | DW26017371 |
| Property ID | 322547791 |
| Lot Sqft | 7,423 |
| Zoning | Unknown |
| Total Units | 7 |
| Days on Market | 11 |
| Original List Price | $1,895,000 |
| Date Updated | January 24, 2026 |
| Date Created | January 23, 2026 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | $169,056 | $0 |
| Net Income (Yr) | $ 123,840 |
| Cap Rate | 6.5% |
Listing Provided By
Hernan Hernandez an agent of . Lic #01161183
© 2026 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of January 24, 2026 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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Robert Crawford
REAL ESTATE AGENT