12
See all 12 photos
$1,899,000
Est. payment /mo
7,487 Sqft Lot
Price Dropped by $51K
1885 Chestnut AVE Long Beach, CA 90806
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW25018988
Originating Board California Regional MLS
Year Built 1944
Lot Size 7,487 Sqft
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. There's 4 individual garages, laundry room, & spacious courtyard.
Location
State CA
County Los Angeles
Area 5 - Wrigley Area
Rooms
Kitchen Oven Range - Gas
Interior
Heating Central Forced Air
Cooling None
Flooring Laminate
Laundry Laundry Area
Exterior
Parking Features Assigned Spaces
Garage Spaces 4.0
Pool 31, None
View None
Roof Type Shingle
Building
Water District - Public
Others
Tax ID 7209028007
Special Listing Condition Not Applicable
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Listed by Branden Chhuor • Compass