1885 Chestnut Avenue

Long Beach, CA 90806

$1,950,000

List Price

N/A

bed Beds

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shower Baths

N/A sqft

straighten / sqft

1944

calendar_month Built

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. Rental Upside is over 10%, while Cap Rate on current rents is at 6.5% and 10.0 GRM. There’s 4 individual garages, laundry room, & spacious courtyard.

Listing Information

List Price $1,950,000
Status Active
MLS PW25018988
HOA $0
Type Residential Income
Subtype Apartment
Year Built 1944
Lot Size 7,487
Structure Size N/A
Courtesy Of Compass
Listing Agent Branden Chhuor DRE#01948722

Interior Features

Laundry Information
Location(s) Common Area
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Flooring Information
Material Laminate, Vinyl
Fireplace Information
Features None
Additional Information
Additional Features Multiple Staircases, All Bedrooms Up, All Bedrooms Down
Cooling Type
Cooling Type None

Exterior Information

Maps

Listing information courtesy of: Branden Chhuor, Compass . *Based on information from the Association of REALTORS/Multiple Listing as of Jan 27th, 2025 at 1:28 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.