1885 Chestnut Avenue
Long Beach, CA 90806
0.17 acres | #PW24110236
Description
Amazing prime investment in this OPPORTUNITY ZONE. This 8-unit apartment complex has excellent unit mixes of (2) 3 bedrooms/1 bathroom, (5) 2 bedrooms/1 bathroom, and (1) 1 bedroom/1 bathroom. Units have been tastefully remodeled to go along with a brand NEW roof install last year in one of the buildings. A 2 bedroom unit will be delivered VACANT & remodeled. There is an onsite community laundry room. The rear has a 4 car garage with access to alley exit that can be converted to ADU's. All tenants are on month-to-month leases and consistently meet their obligations. Huge Rental Upside with 11.46 GRM AND 5.9% CAP. Don't miss out on this smart investment in a sought-after location.
Property Details
- Utility FeaturesElectricityConnected, NaturalGasConnected, SewerConnected, OverheadUtilities
- InteriorCeilingFans, AllBedroomsUp, AllBedroomsDown
- Lot DescriptionSixToTenUnitsAcre
- SubdivisionWrigley Area (WR)
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- CountyLos Angeles
- Original List Price$2,200,000
- MLS #PW24110236
- MLS #PW24110236
- Property SubtypeApartment
- Cost2200000
- Acres0.1719
- Utility SourcePublic
- Year Built1944
- FoundationSlab
- 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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