2024 CHESTNUT AVE LONG BEACH, CA 90806

Features

• Price/sqft: $365
• Lot Size: 6375 sq. ft.
• Total Units: 5
• Total Rooms: 10
• Room List: Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5
• Heating: 24
• Construction Type: Wood

Facts

• Year Built: 01/01/1928
• Property ID: 929865420
• MLS Number: SB24215716
• Parcel Number: 7209-025-009
• Property Type: Multi-family (5 or more units)
• County: LOS ANGELES
• Legal Description: TRACT # 5161 LOT/SEC 9 BLK/DIV/TWN 2
• Zoning: LBR2N
• Listing Status: Active

Sale Type

This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.

Description

This listing is NOT a foreclosure. 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.nnThe 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.