1885 Chestnut Avenue
Long Beach, CA, 90806
$1,950,000
Beds
0 Baths
SqFt
0.17 Acres
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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, &#38' spacious courtyard.

Property Details

Price:
$1,950,000
MLS #:
PW25018988
Status:
Active
Baths:
0
Address:
1885 Chestnut Avenue
Type:
Residential Income
Subtype:
Apartment
Subdivision:
Wrigley Area WR
Neighborhood:
5wrigleyarea
City:
Long Beach
Listed Date:
Jan 23, 2025
State:
CA
ZIP:
90806
Lot Size:
7,487 sqft / 0.17 acres (approx)
Year Built:
1944
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Schools

Interior

Accessibility Features
None
Appliances
Gas Range
Cooling
None
Fireplace Features
None
Flooring
Laminate, Vinyl
Heating
Central
Interior Features
2 Staircases

Exterior

Community Features
Sidewalks
Fencing
Wrought Iron
Garage Spaces
4.00
Lot Features
0-1 Unit/ Acre
Parking Features
Assigned
Parking Spots
4.00
Pool Features
None
Roof
Shingle
Sewer
Public Sewer
Spa Features
None
Stories Total
2
View
None
Water Source
Public

Financial

Association Fee
0.00
Tenant Pays
Electricity
Utilities
Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Sewer Available, Sewer Connected, Water Available, Water Connected

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Community

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Rover IDX
1885 Chestnut Avenue
Long Beach, CA