2216 Locust Avenue

2216 Locust Avenue, Long Beach, CA 90806

Sale Price


Investment Overview



Year Built


Price Per SF


Price Per Unit


Current Cap Rate


Market Cap Rate


Current GRM


Market GRM


The Offering

Stepp Commercial is pleased to offer 2216 Locust Avenue, a 5-unit multifamily investment in Long Beach, one of the fastest growing markets in Southern California.

The building features a mix of oversized (1) three-bedroom/one bath units and (4) one-bedroom/one bath units. Each unit has its own water heater, and all units are separately metered for gas and electric. Four onsite garages offer the ability for additional income. And the enhancement of common area amenities may provide the opportunity to capture extra upside.

2216 Locust Avenue has the potential to achieve 27% rental upside and is offered at a 6.32% cap rate and 10.89 GRM on proforma rents.

Investment Highlights

  • 6.32% cap rate / 10.89 GRM on proforma rents
  • 27% rental upside potential
  • Opportunity for additional parking income from 4 garages
  • Separate water heaters and meters for gas and electric
  • Oversized units – (1) 3BD/1BA and (4) 1BD/1BA