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1885 Chestnut Avenue, Long Beach, CA 90806
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1885 Chestnut Avenue
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  • MLS#: PW24110236 ( Apartment )
  • Street Address: 1885 Chestnut Avenue
  • Viewed: 15
  • Price: $2,200,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1944
  • Bldg sqft: 0
  • Days On Market: 233
  • Additional Information
  • County: LOS ANGELES
  • City: Long Beach
  • Zipcode: 90806
  • Subdivision: Wrigley Area (wr)
  • Provided by: Compass
  • Contact: Branden Branden
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    Amazing prime investment in this OPPORTUNITY ZONE. This 8 unit apartment complex has excellent unit mixes of (2) 3 bedrooms/1 bathroom, (5) 2 bedrooms/1 bathroom, and (1) 1 bedroom/1 bathroom. Units have been tastefully remodeled to go along with a brand NEW roof install last year in one of the buildings. A 2 bedroom unit will be delivered VACANT & remodeled. There is an onsite community laundry room. The rear has a 4 car garage with access to alley exit that can be converted to ADU's. All tenants are on month to month leases and consistently meet their obligations. Huge Rental Upside with 11.46 GRM AND 5.9% CAP. Don't miss out on this smart investment in a sought after location.
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Features
Accessibility Features
  1. None
Appliances
  1. Gas Oven
Architectural Style
  1. Traditional
Assessments
  1. None
Association Fee
  1. 0.00
Building Area Total
  1. 6523.00
Cable Tv Expense
  1. 0.00
Carport Spaces
  1. 0.00
Commoninterest
  1. Community Apartment
Common Walls
  1. No Common Walls
Construction Materials
  1. Drywall Walls
Cooling
  1. None
Country
  1. US
Days On Market
  1. 115
Current Financing
  1. Conventional
Direction Faces
  1. East
Door Features
  1. Panel Doors
Electric
  1. Standard
Electric Expense
  1. 1100.00
Entry Location
  1. Street
Fencing
  1. Block
Fireplace Features
  1. None
Flooring
  1. Laminate
  2. Vinyl
Foundation Details
  1. Slab
Fuel Expense
  1. 5000.00
Furniture Replacement Expense
  1. 0.00
Garage Rental Rate
  1. 60.00
Garage Spaces
  1. 4.00
Gardner Expense
  1. 1200.00
Heating
  1. Central
Insurance Expense
  1. 14000.00
Interior Features
  1. Ceiling Fan(s)
Laundry Equipment Own Lease
  1. Lease
Laundry Features
  1. Common Area
  2. Community
Laundry Income
  1. 2000.00
Levels
  1. Two
Lockboxtype
  1. None
Lot Features
  1. 6-10 Units/Acre
  2. Utilities - Overhead
Netoperatingincome
  1. 123120.00
Newtaxesexpense
  1. 25700.00
Number Wallac
  1. 10
Otherexpense
  1. 5000.00
Otherexpensedescription
  1. Repairs
Parcel Number
  1. 7209028007
Parking Features
  1. Garage
Pest Control Expense
  1. 0.00
Pool Expense
  1. 0.00
Pool Features
  1. None
Professionalmanagementexpense
  1. 10560.00
Property Type
  1. Apartment
Property Condition
  1. Updated/Remodeled
Road Frontage Type
  1. City Street
Road Surface Type
  1. Paved
Roof
  1. Shingle
Security Features
  1. Window Bars
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 415842177:CRM
Spa Features
  1. None
Subdivision Name Other
  1. Wrigley Area (WR)
Suppliesexpense
  1. 0.00
Tenant Pays
  1. None
Totalactualrent
  1. 14000.00
Totalexpenses
  1. 63180.00
Trash Expense
  1. 250.00
Uncovered Spaces
  1. 0.00
Utilities
  1. Electricity Connected
  2. Natural Gas Connected
  3. Sewer Connected
Vacancyallowance
  1. 5700
View
  1. None
Views
  1. 15
Water Sewer Expense
  1. 5000.00
Water Source
  1. Public
Window Features
  1. Double Pane Windows
Workmanscompensationexpense
  1. 0.00
Year Built
  1. 1944
Year Built Source
  1. Assessor
Zoning
  1. LBR2N