$ 1,350,000
2024 Chestnut Avenue Long Beach, CA 90806
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Listed by Anthony P. Walker • Buckingham Investments, Inc
$ 1,350,000
Est. payment /mo
New
2024 Chestnut Avenue Long Beach, CA 90806
3,692 SqFt
UPDATED:
11/22/2024 03:01 AM
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,692 sqft
Price per Sqft $365
Subdivision Wrigley Area
MLS Listing ID SB-24215716
Style Mediterranean
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
Zoning LBR2N
Interior
Interior Features Laminate Counters
Heating Wall Furnace
Cooling None
Flooring Carpet, Tile, Vinyl
Fireplaces Type None
Laundry Community
Exterior
Parking Features Garage Faces Rear
Garage Spaces 4.0
Pool None
Community Features Suburban
Utilities Available Sewer Connected, Water Connected, Electricity Connected, Natural Gas Connected
View Y/N No
View None
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer