1885 Chestnut Ave - Apartments FOR SALE


Long Beach, CA 90806
$1,950,000 USD
213-536-9669
1885 Chestnut Ave, Long Beach, CA for Sale
$1,950,000 USD
Apartments - FOR SALE
1/12
null | 6.33% Cap Rate

1885 Chestnut Ave
Long Beach, CA 90806


HIGHLIGHTS

  • Excellent unit mixes are (2) 3 bedrooms/1 bathroom, (5) 2 bedrooms/1 bathroom, and (1) 1 bedroom/1 bathroom.
  • A two (2) bedroom unit will be delivered VACANT & remodeled
  • 4 of the units are remodeled

OVERVIEW

Amazing prime investment in this OPPORTUNITY ZONE location. This 8-unit apartment complex boasts 17 bedrooms, 8 bathrooms situated on a generous 7500 square foot lot. Excellent unit mixes are (2) 3 bedrooms/1 bathroom, (5) 2 bedrooms/1 bathroom, and (1) 1 bedroom/1 bathroom. Units are 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. 9.8 GRM AND 6.2% CAP. Don't miss out on this smart investment in a sought-after location.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$244 USD /SF

# OF UNITS

8

PRICE/UNIT

$243,750

CAP RATE

6.33%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Opportunity Zone Location

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1944

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,501 SF

ZONING

R2N, Long Beach

APN/PARCEL ID

7209-028-007

ASK ABOUT THIS PROPERTY

Branden ChhuorCompassMore Info
213-536-9669

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Branden ChhuorCompassMore Info
213-536-9669

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.