2024 Chestnut Avenue

Long Beach, CA 90806

PRICE REDUCED

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-$49,000 (-3.50%)

$1,350,000

List Price

N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten / sqft

1928

calendar_month Built

Property Description

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. Attractive 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.

Listing Information

List Price $1,350,000
Status Active
MLS SB24215716
HOA $0
Type Residential Income
Subtype Apartment
Year Built 1928
Lot Size 6,399
Structure Size N/A
DOM 35
Courtesy Of Buckingham Investments, Inc
Listing Agent Anthony Walker DRE#01908153
Co-Listing Agent Josh Ess DRE#02035659

Interior Features

Laundry Information
Location(s) Common Area
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Flooring Information
Material Carpet, Tile, Vinyl
Fireplace Information
Features None
Additional Information
Additional Features Laminate Counters, Quartz Counters
Cooling Type
Cooling Type None

Exterior Information

Maps

Listing information courtesy of: Anthony Walker, Josh Ess, Buckingham Investments, Inc 310 982-7055. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 13th, 2024 at 7:18 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.