1885-1887 Locust Ave 13 Unit Apartment Building $3,610,937 CAD ($277,764 CAD/Unit) 6.13% Cap Rate Long Beach, CA 90806

EMAIL LISTING AGENT FOR THE OFFERING MEMORANDUM.
High-Yield Asset – Offered at a 6.13% cap rate with approximately 10% potential upside in net operating income.
Diverse Unit Mix – (10) 1+1, (2) 2+1, and (1) 2+2 townhouse style unit catering to a broad tenant base of workforce renters, young professionals, and small households.
Attractive Basis – Offered at $202,308 per unit and $318.25/SF, representing a significant discount to replacement cost.
Ideal for 1031 Exchange Buyers – Offers stable in-place cash flow with rental upside, appealing to investors exiting more restrictive Los Angeles rent-controlled assets
Recent Capital Improvements – Exterior recently painted, main electrical panel replaced, water heater upgraded, and SB 721 compliance completed, reducing near-term capital expenditure risk
Downtown Growth & Housing Demand – Downtown Long Beach has seen substantial new residential development delivered in recent years, with thousands of additional units approved or under construction, underscoring strong housing demand, rent growth, and continued urban revitalization.