$1,299,000
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2024 Chestnut Avenue Long Beach, CA 90806
Apartment
Residence
Beds
Baths
3,692
Sq. Ft.
0.15
Acre
Lot
Property Activity
Time on Site
days
Days on Market
Views
Saves
Just reduced! Large 5 unit building with (3) 3-Bed Units, (1) Large 2-Bed Unit, and (1) 1-bed unit in the excellent neighborhood of South Wrigley. The building is conveniently located less than a mile from the 710 Freeway, less than 2 miles from the 405, and just 2 miles North of the beach. Attra...ctive residential tree-lined street.
The property is priced to sell at 10.86 GRM and a current cap rate of 5.66%. There is approximately 7% upside in income to a market cap rate of 6.3%. It has fresh exterior paint and the electrical system was just updated in September of 2024. There is also a detached garage building off of the back alley that has 4 spots in 3 separate garages. Perfect ADU opportunity.
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MLS#
SB24215716
Property Type
Apartment
Status
Year Built
1928
Square Feet
3,692
sq. ft
Lot Size
0.15
Stories
2.0
Sewer
Sewer Connected, Public Sewer
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