2024 Chestnut Avenue, Long Beach, CA 90806

  • $1,350,000
  • $1,399,000
2024 Chestnut Avenue, Long Beach, CA 90806
  • Residential Income
  • Property Type
  • 4.0
  • Garages
  • 3692
  • Square Feet
  • 1928
  • Year Built
Active

2024 Chestnut Avenue, Long Beach, CA 90806

2024 Chestnut Avenue, Long Beach, CA 90806
  • $1,350,000
  • $1,399,000

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.

  • Address 2024 Chestnut Avenue
  • City Long Beach
  • Zip/Postal Code 90806

Details

Updated on November 22, 2024 at 12:11 am
  • Property ID: CRSB24215716
  • Price: $1,350,000
  • Property Size: 3692 Square Feet
  • Land Area: 0.1469 Acres
  • Garages: 4.0
  • Garage Size: x x
  • Year Built: 1928
  • Property Type: Residential Income
  • Property Status: Active
  • MLS#: SB24215716

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