$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 Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1917 |
| Days On Site | 105 |
Features
| SQ Feet | 4,028 |
|---|---|
| Garage | 4 |
| Story(s) | 2 |
| Acreage | 0.17 |
| Water Front | No |
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| Area Information | |
|---|---|
| State | CA |
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90813 |
| Area | 5 - Wrigley Area |
| Community Name | Wrigley Area (WR) |
| Listing VS Median (in Wrigley Area (WR)) | |
Price: $1,199,000 low | high Med: $702,000 SqFt: 4,028 low | high Med: 1,567 $ / SqFt: $298 low | high Med: $456 On Site: 105 low | high Med: 38 | |
Listing Updated: February 10, 2021 5:44:47 PM PST
MLS Number: SB20240042Listing Provided By:
John Alden of Alden Pacific Investments Inc.