Long Beach, CA 90813,1722 Locust AVE

$998,000

Est. payment /mo

$998,000

Est.Price: ?

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1722 Locust AVE Long Beach, CA 90813

0.28 Acres Lot

SOLD DATE : 01/28/2021

Key Details

Sold Price $998,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Subdivision Other (Othr)

MLS Listing ID OC20253642

Sold Date 01/28/21

HOA Y/N No

Year Built 1929

Lot Size 0.280 Acres

Property Description

Currently, the real estate consists of a classic 1929 Spanish-Style duplex, that has Two (2) 2 Bedroom / 1 Bath Townhouses, and a HUGE expanse of land in the rear that has alley access. With new developments surrounding the property, this complex is in the path of progress, and is just one block to the Light Rail Blue Line, as well as Class A Apartment developments. Recently Re-Zoned (SP1 - Midtown Specific Plan), the site allows for Residential, and/or Commercial Use, with the potential for 15-40 Units. Currently, the owner has preliminary drawings for a 25 Unit project. Whether you add value by fixing up the Duplex to its original charm, while also creating utilizing the back lot, or building additional units, this site offers tremendous upside!

Location

State CA

County Los Angeles

Area 9 - Poly High

Zoning LBPD29

Interior

Fireplace No

Laundry None

Exterior

Pool None

Community Features Sidewalks

Total Parking Spaces 4

Private Pool No

Building

Lot Description Back Yard

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7269019037

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Financing Cash to New Loan

Special Listing Condition Standard, Trust

Lease Land No

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California Regional MLS (CRMLS)
Listed by Pat Swanson • Pat Swanson
Bought with David Shorter • David Shorter, Broker
agent

Alex Duarte

CEO | i01970077

+1(714) 373-6828

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