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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.
| DAYS ON MARKET | 54 | LAST UPDATED | 1/24/2026 |
|---|---|---|---|
| TRACT | North Long Beach (NLB) | YEAR BUILT | 1924 |
| COMMUNITY | 7 - North Long Beach | COUNTY | Los Angeles |
| STATUS | Active | PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AREA | 7 - North Long Beach |
|---|---|
| HEAT | Natural Gas |
| LOT | 7423 sq ft |
| LOT DIMENSIONS | 7423 |
| PARKING | None |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | North Long Beach (NLB) |
| UTILITIES | Electricity Connected, Natural Gas Connected, Sewer Connected |
| VIEW DESCRIPTION | None |
| WATER | Public |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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Based on information from California Regional Multiple Listing Service, Inc. as of 3/17/26 12:46 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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