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.

Features
: Wall Furnace
: Tile, Carpet, Vinyl
: Community Facility
: Garage Faces Rear
: Flat, Tile
Address Map
CA
Los Angeles
Long Beach
90806
2024 Chestnut Avenue
0
W119° 48' 15.6''
N33° 47' 38.6''
West of Pacific, North of PCH
MLS Addon
Buckingham Investments, Inc
Anthony Walker
Anthony.walker@buckinghaminvestments.com
CR568424
CR348084316
CR132256
: Other
: Public

Commercial Sale For Sale

2024 Chestnut Avenue, Long Beach, California 90806

3,692 Sqft
$1,350,000
Listing ID #CRSB24215716
Basic Details
Property Type : Commercial Sale
Listing Type : For Sale
Listing ID : CRSB24215716
Price : $1,350,000
Square Footage : 3,692 Sqft
Year Built : 1928
Lot Area : 6,399 Sqft
Status : Active
Property SubType : Other
Agent info
Michael Roberts
Contact Agent