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. rental upside is over 10%, while cap rate on current rents is at 6.5% and 10.0 grm. there’s 4 individual garages, laundry room, & spacious courtyard.
Property Type
Residential IncomeCounty
Los AngelesStyle
Residential IncomeAD ID
48449805
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Property Details
-
Interior Features
Water/Sewer
- Water Source : Public
- Sewer : Public Sewer
Interior Features
- Roof : Shingle
- Interior Features: Multiple Staircases,All Bedrooms Up,All Bedrooms Down
- Property Appliances: Gas Range
- Fireplace: None
- Flooring: Laminate,Vinyl
Cooling Features
- None
- Air Conditioning
Heating Source
- Central
- Has Heating
Fireplace
- Fireplace Features: None
- Has Fireplace: 0
-
Exterior Features
Building Information
- Year Built: 1944
- Building Area Total: 6,523
- Roof: Shingle
Accessibility Features
- None
Pool Features
- None
Laundry Features
- Common Area
Fencing
- Wrought Iron
-
Property / Lot Details
Lot Details
- Lot Dimensions Source: Vendor Enhanced
- Lot Size Acres: 0.1719
- Lot Size Source: Assessor
- Lot Size Square Feet: 7487
-
Listing Information
Listing Price Information
- Original List Price: 1,950,000
- Listing Contract Date: 2025-01-23
Lease Information
- Listing Agreement: Exclusive Right To Sell
-
Taxes / Assessments
Tax Information
- Parcel Number: 7209028007
-
Virtual Tour, Parking, Multi-Unit Information & Homeowners Association
Garage and Parking
- Garage Description: Assigned
Homeowners Association
Rental Info
- Lease Term: Negotiable
- Tenant Pays: Electricity
-
School, Utilities & Location Details
Other Property Info
- Source Listing Status: Active
- Source Neighborhood: 5 - Wrigley Area
- Directions: PCH and Chestnut Ave
- Zoning: LBR2N
- Source Property Type: Residential Income
- Area: 5 - Wrigley Area
- Property SubType: Apartment
Building and Construction
- Property Age: 81
- Common Walls: No Common Walls
- Structure Type: Apartment
- Year Built Source: Assessor
- Entry Level: 1
- Entry Location: East
- Levels or Stories: Two
- Building Total Stories: 2
Statistics Bottom Ads 2
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BuyOwner last updated this listing 01/31/2025 @ 07:12
- MLS: PW25018988
- LISTING PROVIDED COURTESY OF: ,
- SOURCE: CRMLS
is a Home, with 0 bedrooms which is for sale, it has 6,523 sqft, 7,487 sized lot, and 4 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Long Beach , in zip code 90806, this Los Angeles County Home , it is in the Wrigley Area (WR) Subdivision, are nearby neighborhoods.