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$ 1,899,000
Est. payment /mo
Pending
1885 Chestnut Avenue Long Beach, CA 90806
9 Beds
4 Baths
7,487 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Pending
Purchase Type For Sale
MLS Listing ID PW25018988
Bedrooms 9
HOA Y/N No
Lot Size 7,487 Sqft
Property Sub-Type Res Income 2-4 Units
Property 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. Has great potential rental upside, while Cap Rate on current rents is at 7.60% and 8.8 GRM. Theres 4 individual garages, laundry room, & spacious courtyard.
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. Has great potential rental upside, while Cap Rate on current rents is at 7.60% and 8.8 GRM. Theres 4 individual garages, laundry room, & spacious courtyard.
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. Has great potential rental upside, while Cap Rate on current rents is at 7.60% and 8.8 GRM. Theres 4 individual garages, laundry room, & spacious courtyard.
Location
State CA
County Los Angeles
Area Long Beach (90806)
Zoning Assessor
Exterior
Parking Features Unit1:Assigned
Building
Lot Description Sidewalks
Story 2
Lot Size Range 4000-7499 SF
Level or Stories 2 Story
Others
Acceptable Financing Conventional
Space Rent $2,056
Listing Terms Conventional
Listed by Branden Chhuor • Compass