1025 Locust Avenue, Long Beach, California 90813, Long Beach, 90813 - 0 bed, 0 bath
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Long Beach, California 90813
This 8-Unit Multi-Family Trophy Asset is a Prime Investment Opportunity with a List Price of $1,800,000—positioned well below the $1,849,921 Fair Market Value by 2%. This valuation gap offers $49,921 in Instant Equity. Boasting a Condition Rating of 3, the property features No Citywide Rent Control and sits in a high-growth Opportunity Zone near the Metro A Line. With ADU Development Potential via four garages and recent Quartz Kitchen Upgrades, this turnkey asset is a premier acquisition for Buy-and-Hold Investors or Portfolio Managers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1025 Locust Avenue Subject | $1,795,000* List Price | 0 | 0 | 5,498 | $327 | - |
A 1415 Cedar Active Under Contract | $2,095,000 List Price | 0 | 0 | 6,922 | $303 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is a well-maintained 1923 building that has undergone significant recent renovations, including 44 new windows installed in 2021, remodeled kitchens with quartz/granite countertops, and updated flooring (refurbished hardwood and new vinyl plank). While it retains some vintage characteristics and utilizes window AC units rather than central HVAC, the interior and exterior upgrades make it move-in ready and turnkey for its age.
The property is exempt from citywide rent control and situated in a high-growth Opportunity Zone, offering investors rare regulatory freedom and significant upside through ADU development or short-term rental conversions.
This 1920s trophy asset features preserved architectural details like crown moldings and original woodwork, complemented by extensive 2021 upgrades including 44 new windows and remodeled kitchens and bathrooms.
Located just 200 feet from the Metro A Line and within walking distance to the beach, Pine Avenue, and Retro-Row, the property occupies a high-demand rental pocket with excellent connectivity.
Despite recent cosmetic and surface-level upgrades, a building from 1923 may possess aging underlying systems such as plumbing or electrical that could require future capital expenditure.
The reliance on window AC units rather than a modern centralized cooling system may be a competitive disadvantage when attracting premium-tier tenants or seeking maximum market rents.
Don’t miss this rare opportunity to own a turnkey Downtown Cash Cow! We are proud to offer this once in a lifetime 8-Unit Downtown Trophy Asset approximately 1 mile to the Beach, Pier and everything that's wonderful about Long Beach. NO CITYWIDE RENT CONTROL offers savvy landlords countless flexibility. Ideal Location! Location! Located within city’s fast-growing Opportunity Zone, walking distance to Historic Pine Ave, 4th Street’s Retro-Row, restaurants, bike trails, schools, churches, dog park, grocery store and approximately 200 ft to Metro A line train station. 1025 Locust is a picturesque 1920s building, featuring all the qualities and characteristics of classic 20th century architecture – boasting magnificent woodwork, built-in cabinetry, high ceilings, crown moldings, expansive floor plans with an abundance of natural light and great curb appeal. “Pride of Ownership” is evident. Recent interior upgrades include remodeled kitchens and bathrooms, refurbished hardwood flooring, new quartz/granite countertops, new wood plank vinyl flooring, 44 new windows installed in 2021, new fixtures, custom two-tone paint and AC window cooling. Recent exterior upgrades include: New common area plank flooring, New landscaping, exterior paint and trim, new garage/auto door, and concrete driveway. The units are much larger than many of the nearby apartment units. The oversized 3-room studios include galley style kitchens with counter to ceiling cabinets, walk-in closets and the extremely large 1 bedrooms offer full-size kitchens, walk-in showers, bathtubs and a service porch. Additional investor notables: spacious backyard area and four garages offer great duplex ADU building potential; new statewide density and parking requirements for multi-units near mass transit offers similar development upside as 97-unit 1112 Locust apartment building; improve best use of 5,498 sq. ft building space to double current bedroom count or increase income immediately with fully furnished apartments similar to current AirBnB Apt. #6. Don’t miss this rare opportunity to own a turnkey Cash Cow and a legacy of authentic history while taking full advantage of endless income growth. Seller MOTIVATED!!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 5,498 | 3,540 | 67% |
| Lot Size | 7,356 | 6,802 | 67% |
| Price | $1.79M | $1.30M | 67% |
| Price per sq ft | $326 | $326 | 50% |
| Built year | 1923 | 1923 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 34 | 270 | 33% |
Apr 14, 2026
$1,795,000
$1,799,000
+0% Price Increase
Initial Listing
Apr 3, 2026
$1,799,000
$1,800,000
+0% Price Increase
Initial Listing
Mar 19, 2026
$1,800,000
Initial Listing
Sep 1, 2017
$1,230,000
Public Record
Jul 16, 2014
$720,000
Public Record