$1,199,000

1620 Chestnut Avenue

Long Beach CA, 90813

Description

1620 Chestnut is a large 4-unit investment property located in Long Beach, CA. Situated on a large 7,503 square foot lot, the subject property boasts a strong unit mix of (3) 2BD/1BA units and (1) 3BD/1BA unit. One of the 2BD units has been immaculately redone by the owner and will be delivered vacant. The property has multiple tenant amenities including laundry hookups in 3 of 4 units, and 4 detached garages. The owner has kept all capital systems in good condition. Property is being sold at a 4.2% CAP rate and 15.67 GRM with a 23% upside in rents to a market CAP rate of 5.9% and a 12.11 GRM. This building makes a great addition to any investor's portfolio.

Details

MLS#SB20240042
Listing TypeFor Sale
Sub-TypeResale
StatusPending
Year1917
Days On Site105

Features

SQ Feet4,028
Garage4
Story(s)2
Acreage0.17
Water FrontNo
Loading Form
Area Information
StateCA
CountyLos Angeles
CityLong Beach
Zip Code90813
Area5 - Wrigley Area
Community NameWrigley Area (WR)
Listing VS Median (in Wrigley Area (WR))
Price:
$1,199,000
low | high
Med:
$702,000
91.451209341118% of Average
SqFt:
4,028
low | high
Med:
1,567
100% of Average
$ / SqFt:
$298
low | high
Med:
$456
3.153576811817% of Average
On Site:
105
low | high
Med:
38
100% of Average
Listing Updated: February 10, 2021 5:44:47 PM PST
John Alden LogoMLS Number: SB20240042
Listing Provided By:
John Alden  of  Alden Pacific Investments Inc.
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.