1885 Chestnut Avenue

Long Beach, CA 90806

PRICE REDUCED

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-$51,000 (-2.62%)

$1,899,000

List Price

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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. Has great potential rental upside, while Cap Rate on current rents is at 7.60% and 8.8 GRM. There’s 4 individual garages, laundry room, & spacious courtyard.

Listing Information

List Price $1,899,000
Status Active
MLS PW25018988
HOA $0
Type Residential Income
Subtype Apartment
Year Built 1944
Lot Size 7,487
Structure Size N/A
DOM 17
Courtesy Of Compass
Listing Agent Branden Chhuor DRE#01948722

Interior Features

Laundry Information
Location(s) Common Area
Bedroom Information
Features All Bedrooms Up, All Bedrooms Down
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
Heating Type
Heating Type Central

Exterior Information

Other Structures
Views None

Maps

Listing information courtesy of: Branden Chhuor, Compass . *Based on information from the Association of REALTORS/Multiple Listing as of Feb 18th, 2025 at 8:12 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.