1885 Chestnut Avenue

Long Beach, CA 90806

$2,200,000

List Price

N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten / sqft

1944

calendar_month Built

Property 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.

Listing Information

List Price $2,200,000
Status Active
MLS PW24110236
HOA $0
Type Residential Income
Subtype Apartment
Year Built 1944
Lot Size 7,487
Structure Size N/A
DOM 113
Courtesy Of Compass
Listing Agent Branden Chhuor DRE#01948722

Interior Features

Laundry Information
Location(s) Common Area
Bedroom Information
Features All Bedrooms Up, All Bedrooms Down
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Flooring Information
Material Laminate, Vinyl
Fireplace Information
Features None
Additional Information
Additional Features Ceiling Fan(s), All Bedrooms Up, All Bedrooms Down
Cooling Type
Cooling Type None

Exterior Information

Maps

Listing information courtesy of: Branden Chhuor, Compass . *Based on information from the Association of REALTORS/Multiple Listing as of Oct 12th, 2024 at 1:22 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.