1885 Chestnut Avenue
Long Beach, CA 90806
0.17 acres | #PW25018988
Description
Amazing prime investment opportunity at 1885 Chestnut Ave, located in an OPPORTUNITY ZONE. Well-maintained in a high demand rental area. This 7-unit plus 1 non-conforming remodeled unit complex has excellent unit mixes of (2) 3 bedrooms/1 bathroom, (5) 2 bedrooms/1 bathroom, and (1) 1 bedroom/1 bathroom. Four (4) units have been tastefully remodeled to go along with a brand NEW roof and brand new water heater. Rental Upside is over 10%, while Cap Rate on current rents is at 6.5% and 10.0 GRM. There’s 4 individual garages, laundry room, & spacious courtyard.
Property Details
- Utility FeaturesElectricityAvailable, ElectricityConnected, NaturalGasAvailable, NaturalGasConnected, SewerAvailable, SewerConnected, WaterAvailable, W
- InteriorMultipleStaircases, AllBedroomsUp, AllBedroomsDown
- Lot DescriptionZeroToOneUnitAcre
- SubdivisionWrigley Area (WR)
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- CountyLos Angeles
- Original List Price$1,950,000
- MLS #PW25018988
- MLS #PW25018988
- Property SubtypeApartment
- Cost1950000
- Acres0.1719
- Utility SourcePublic
- Year Built1944
- Stories2
- Parking Spaces4
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Branden Chhuor (#PWCHHUBRA)
Listing Office: Compass (#PB20495)
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