1564 Locust · Long Beach, CA 90813

$1,125,000

6 bd · 4.0 ba · 3,458 sqft · MultiFamily public records · 85 Days on market

Built 1963 3,011 sqft lot $325/sqft · at area comps Est $1100k · at est.

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +23.8/30.0
• DSCR +7.7/10.0
• ARV discount +6.5/15.0
• 1% rule +5.2/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

This well-maintained 4-unit income property presents a strong opportunity for investors seeking stable, long-term rental income. The building features four units with functional layouts that provide comfortable living spaces and consistent tenant appeal. The property is currently occupied by some long-term tenants and tenants within the last three years, offering immediate and reliable income with a proven rental history. Their extended tenancy reflects the overall desirability and stability of the property. Public Street parking for the property is available on the street directly in front of the building, providing convenient access for residents and guests. Located in a high-demand rental area of Long Beach, the property is close to schools, shopping, public transportation, and major freeways, making it attractive to a wide range of tenants. Overall, this is a solid multi-unit investment with dependable income, minimal turnover, and strong long-term upside in a desirable market.

Key facts

• Income property
• Functional layouts
• 3,011 sq ft lot

Tags

• INCOME PROPERTY
• LONG-TERM RENTAL INCOME
• FUNCTIONAL LAYOUTS
• PROVEN RENTAL HISTORY
• PUBLIC STREET PARKING
• HIGH-DEMAND RENTAL AREA

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/4.0-bath units multifamily listed at $1.12M.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $543/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $1.12M).
• Recommended offer: $1.06M (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 1.9% in Long Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 67/100 on livability (#319 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B+; Watch: health & safety C-, crime F, cost of living F.
• Long Beach Unified (urban): math 34% / reading 50% proficiency, ranked #216 of 517 in CA (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.3%/yr); 82 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $11,426/mo this rent would consume 251% of the median local household income ($55k/yr) (locally 4941% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $8k of loan paydown is wiped out by about $34k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($1.06M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $208k; list at $1.12M implies a 442% gain — meaningful room to come down on a strong offer.

Recommended offer $1,057,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.02% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.27%
• DSCR: 1.37
• GRM: 8.2

CMA / ARV

• ARV (median comp): $1,099,883
• List price: $1,125,000
• Delta: 2.28%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1452 Pacific Ave	0.19mi	7/4.0 (+1)	3,180 (-8%)	10mo	$1,097,000	$345	64
2015 Locust Ave	0.50mi	7/4.0 (+1)	3,199 (-8%)	10mo	$1,256,040	$393	51
817 E New York	0.50mi	7/4.0 (+1)	3,076 (-11%)	6mo	$1,150,000	$374	48
1974 Henderson Ave	0.59mi	7/4.0 (+1)	3,112 (-10%)	3mo	$1,225,000	$394	48
1816 Oregon Ave	0.66mi	7/— (+1)	3,194 (-8%)	12mo	$1,200,000	$376	41
1036 Chestnut Ave	0.56mi	7/7.0 (+1)	3,770 (+9%)	14mo	$1,190,000	$316	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.75×
• Total profit: $-77,892
• Equity at exit: $167,741

10-year hold

• IRR: -1.1%
• Equity multiple: 0.93×
• Total profit: $-20,765
• Equity at exit: $97,269

Cash invested: $315,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 90813

• Rents YoY: -0.3%
• Active inventory: 82
• Price-to-rent: 32.8×

Monthly cashflow live

• Estimated rent: $11,426 medium
• Mortgage (P&I): −$5,900
• Tax from tax record: −$487 /mo · $5,844/yr
• Insurance: −$469
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,399
• Net cashflow: $2,171

Break-even live

Break-even rent $8,678

Max offer price $1,125,000

Occupancy floor 76%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	6	4	$11,428
Total (4 units)			$11,426

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $281,250
• Closing costs: $33,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1328 W 19th St Unit A Long Beach, CA	6.0	3.0	2500	$1,100	$0.44	20d	1	1.12mi

Listing history 21 events

1. 2026-06-18
   days on market $1,125,000 Active 85 DOM
2. 2026-06-17
   days on market $1,125,000 Active 84 DOM
3. 2026-06-16
   days on market $1,125,000 Active 83 DOM
4. 2026-06-15
   days on market $1,125,000 Active 82 DOM
5. 2026-06-13
   days on market $1,125,000 Active 80 DOM
6. 2026-06-13
   days on market $1,125,000 Active 79 DOM
7. 2026-06-09
   days on market $1,125,000 Active 76 DOM
8. 2026-06-08
   days on market $1,125,000 Active 75 DOM
9. 2026-06-07
   days on market $1,125,000 Active 74 DOM
10. 2026-06-04
    days on market $1,125,000 Active 71 DOM
11. 2026-06-03
    days on market $1,125,000 Active 70 DOM
12. 2026-06-02
    days on market $1,125,000 Active 69 DOM
13. 2026-06-01
    days on market $1,125,000 Active 68 DOM
14. 2026-05-31
    days on market $1,125,000 Active 67 DOM
15. 2026-03-25
    listed $1,125,000 Active 996-char remark

    Show marketing remark (996 chars)

    This well-maintained 4-unit income property presents a strong opportunity for investors seeking stable, long-term rental income. The building features four units with functional layouts that provide comfortable living spaces and consistent tenant appeal. The property is currently occupied by some long-term tenants and tenants within the last three years, offering immediate and reliable income with a proven rental history. Their extended tenancy reflects the overall desirability and stability of the property. Public Street parking for the property is available on the street directly in front of the building, providing convenient access for residents and guests. Located in a high-demand rental area of Long Beach, the property is close to schools, shopping, public transportation, and major freeways, making it attractive to a wide range of tenants. Overall, this is a solid multi-unit investment with dependable income, minimal turnover, and strong long-term upside in a desirable market.

16. 1988-11-16
    soldstatus $207,500
17. 1988-11-16
    soldstatus $207,500
18. 1988-11-16
    soldstatus $207,500
19. 1984-06-06
    soldstatus $110,000
20. 1982-02-26
    soldstatus $145,000
21. 1982-02-26
    soldstatus $266,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $5,844 · $487/mo
• Projected year-2 tax: $8,550 · $712/mo
• Expected delta: +$2,706/yr (+$226/mo · 46.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥88°F today · 24 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $137,112
• − Mortgage interest: −$63,017
• − Property taxes: −$5,844
• − Insurance: −$5,625
• − Repairs & maintenance: −$10,969
• − Management: −$10,969
• − Depreciation: −$32,727
• Taxable income: $7,961
• Est. tax owed @ 24.0%: −$1,911
• After-tax cash flow: $24,144/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Long Beach Unified
• NCES district ID: 0622500
• Math proficiency: 34% ▼ -11.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $56,092
• Composite: 36.67/100
• National rank: #4607
• State rank: #216 of 517 in CA

Livability — Long Beach

• Score: 67/100
• State rank: #319
• US rank: #10758

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B+ Housing C+ Health & safety C- User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Long Beach, CA
• County: Los Angeles County · 9,444,647 people
• City population: 466,088
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 51,241
• Household income: $54,526
• Rent vs Own: 84.9% rent · 15.1% own
• Severe rent burden: 4941.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Hispanic / Latino 64% Two or more races 13% Asian 12% Black 11% White 9% Native American 2%
• Hispanic origin (detail): Mexican 53%
• Common ancestry: Lithuanian 1% Serbian 1%
• Foreign-born: 36% · Canada, South Korea, Vietnam
• Languages at home: 33% English-only · Spanish 56% Other Asian/Pacific 6% Tagalog/Filipino 1%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -468.88%
• Current HPI: 480.8118
• Rent YoY: ▼ -0.34%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+675.9% since first listed

7 events — show timeline

• 2026-03-25 Listed $1,125,000 CRMLS
• 1988-11-16 Sold (Public Records) $207,500 Public Records
• 1988-11-16 Sold (Public Records) $207,500 Public Records
• 1988-11-16 Sold (Public Records) $207,500 Public Records
• 1984-06-06 Sold (Public Records) $110,000 Public Records
• 1982-02-26 Sold (Public Records) $266,000 Public Records
• 1982-02-26 Sold (Public Records) $145,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $5,844 · +5.1% YoY. Source: county tax records.