718 Chestnut Avenue is a 17-unit Affordable multifamily property in the Willmore section of Long Beach. This turnkey property features newer roofing, plus all updated systems, including electrical and plumbing. The current owner has installed new cabinets, fixtures, windows, granite countertops, and sturdy tile floors in all units, in addition to a security camera system. All units include refrigerators, owned by seller. The Affordable rent covenant with the city of Long Beach, which affects 8 units, expires in 5.8 years (July 2030). City of Long Beach Affordable rent covenants available for buyer review upon request. 718 Chestnut Avenue is offered at a 5.32% cap rate and 11.64 GRM based on current rents.