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1885 Chestnut Avenue, Long Beach, CA 90806
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1885 Chestnut Avenue
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  • MLS#: PW25018988 ( Apartment )
  • Street Address: 1885 Chestnut Avenue
  • Viewed: 17
  • Price: $1,899,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1944
  • Bldg sqft: 0
  • Days On Market: 93
  • 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 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. Theres 4 individual garages, laundry room, & spacious courtyard.
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Features
Accessibility Features
  1. None
Appliances
  1. Gas Range
Association Fee
  1. 0.00
Building Area Total
  1. 6523.00
Commoninterest
  1. Community Apartment
Common Walls
  1. No Common Walls
Cooling
  1. None
Country
  1. US
Days On Market
  1. 19
Electric Expense
  1. 1100.00
Entry Location
  1. East
Fencing
  1. Wrought Iron
Fireplace Features
  1. None
Flooring
  1. Laminate
  2. Vinyl
Fuel Expense
  1. 0.00
Garage Spaces
  1. 4.00
Gardner Expense
  1. 1200.00
Heating
  1. Central
Insurance Expense
  1. 14000.00
Interior Features
  1. 2 Staircases
Laundry Features
  1. Common Area
Laundry Income
  1. 2000.00
Levels
  1. Two
Lockboxtype
  1. None
Lot Features
  1. 0-1 Unit/Acre
Netoperatingincome
  1. 124690.00
Newtaxesexpense
  1. 23400.00
Otherexpense
  1. 5000.00
Otherexpensedescription
  1. Repairs
Parcel Number
  1. 7209028007
Parking Features
  1. Assigned
Pool Features
  1. None
Professionalmanagementexpense
  1. 9000.00
Property Type
  1. Apartment
Roof
  1. Shingle
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 431054090:CRM
Spa Features
  1. None
Subdivision Name Other
  1. Wrigley Area (WR)
Tenant Pays
  1. Electricity
Totalactualrent
  1. 7.00
Totalexpenses
  1. 64700.00
Trash Expense
  1. 1000.00
Utilities
  1. Electricity Available
  2. Electricity Connected
  3. Natural Gas Available
  4. Natural Gas Connected
  5. Sewer Available
  6. Sewer Connected
  7. Water Available
  8. Water Connected
Vacancyallowance
  1. 5900
View
  1. None
Views
  1. 17
Water Sewer Expense
  1. 10000.00
Water Source
  1. Public
Year Built
  1. 1944
Year Built Source
  1. Assessor
Zoning
  1. LBR2N