2024 Chestnut AVE Active Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90806
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB24215716
Style Mediterranean
Originating Board California Regional MLS
Year Built 1928
Lot Size 6,399 Sqft
Property 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.
Location
State CA
County Los Angeles
Area 5 - Wrigley Area
Rooms
Kitchen Oven Range - Gas,Oven - Gas
Interior
Heating Wall Furnace
Cooling None
Laundry Community Facility
Exterior
Parking Features Garage
Garage Spaces 4.0
Pool 31,None
View None
Roof Type Flat / Low Pitch,Tile
Building
Water District - Public
Architectural Style Mediterranean
Others
Tax ID 7209025009
Special Listing Condition Not Applicable