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1025 Locust Avenue, Long Beach, California 90813, Long Beach, 90813 - bed, bath

1025 Locust Avenue, Long Beach, California 90813 home-pic-0
ACTIVE$1,915,000
1025 Locust Avenue, Long Beach, California 90813
0Bed
0Bath
5,498Sqft
7,356Lot
Year Built
1923
Close
-
List price
$1.92M
Original List price
$2M
Price/Sqft
$348
HOA
-
Days on market
-
Sold On
-
MLS number
PW25177968
Home ConditionExcellent
Features
Patio
ViewNeighborhood

About this home

We found 3 Cons,5 Pros. Rank: price - $1.92M(50th), sqft - 5498(50th), beds - undefined(50th), baths - undefined(50th).

Attention ALL Multi-Family Investors! 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!!

Price History

Date
Event
Price
09/23/25
Price Change
$1,915,000-0.5%
09/16/25
Price Change
$1,925,000-0.5%
08/20/25
Price Change
$1,935,000-3.0%
08/07/25
Listing
$1,995,000
09/01/17
Sold
$1,230,000
07/16/14
Sold
$720,000
Condition Rating
Excellent
Despite being built in 1923, the property has undergone extensive recent renovations, including remodeled kitchens and bathrooms, new quartz/granite countertops, new wood plank vinyl flooring, refurbished hardwood, new windows (2021), and new fixtures. The images confirm modern and clean finishes in the kitchen (new countertops, clean cabinets, subway tile backsplash) and living areas (new flooring, fresh paint). These significant updates within the last 5 years align with the 'excellent' criteria for a fully renovated property.
Pros & Cons

Pros

Exceptional Investment Opportunity: An 8-unit multi-family asset located in a fast-growing Opportunity Zone with no citywide rent control, providing significant flexibility and strong potential for income growth.
Prime Downtown Location: Strategically situated approximately 1 mile from the beach and pier, offering excellent walkability to Historic Pine Ave, Retro-Row, restaurants, and just 200 ft from the Metro A line train station.
Historic Charm with Extensive Modern Upgrades: A picturesque 1920s building that retains classic architectural features (woodwork, high ceilings, crown moldings) complemented by recent renovations including remodeled kitchens/baths, new flooring, 44 new windows (2021), and exterior improvements.
Significant Development & Income Upside: Offers potential for ADU development with four garages, opportunities to double the current bedroom count, or increase income through fully furnished units (e.g., AirBnB), supported by new statewide density requirements near mass transit.
Turnkey & Well-Maintained: Evident 'Pride of Ownership' with comprehensive recent interior and exterior upgrades, presenting a 'Cash Cow' opportunity ready for immediate operation.

Cons

Age of Building: Built in 1923, despite recent upgrades, an older building may still incur higher long-term maintenance costs or require more specialized attention for historic preservation and infrastructure compared to newer constructions.
Limited Cooling System: The property relies on 'AC window cooling' rather than a central air conditioning system, which could be less efficient, less aesthetically pleasing, and potentially a drawback for tenants in warmer climates.
Recent Price Reductions: Multiple price drops from the initial listing suggest the property may have been initially overpriced or is facing market resistance, potentially indicating a need for further price adjustment or a longer sales cycle.

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