$ 2,775,000
-
$2,775,000
Price -
5
Bed -
4
Bath -
9,437
SqFt -
0.19
Acre
NEW! Buy and sell safely with virtual options - Learn More
About the Listing CLW-X82195 - CLW-C138326
1940 Chestnut Ave | 14-Unit Stabilized Multifamily in Long Beach. 1946-built asset totaling 9,437 SF on an 8,152 SF lot in an established residential corridor one block from major employment and transit corridors in one of Los Angeles County's most durable rental submarkets. The property features a (10) 2+1 / (2) Studio / (2) 3+2 unit mix averaging 723 SF with separately metered electric - a cost-efficiency advantage in this dense urban environment. Twelve units are currently occupied and eleven of twelve occupied units are below market, with rents averaging $1,899.64/month against market rents of $2,003.57, and two units positioned to lease at market rate with zero capital expenditure. Offered at $2,775,000 ($198,214/unit | $294.06/SF) with an 8.13% current cap rate, the real story is what's underneath - an 8.74% pro forma cap and $16,905 in incremental annual NOI as rents mark to market through straightforward execution with no renovation required.
Listing Highlights for 1940 Chestnut Ave
Interior Details
- Bedrooms: 5
- Bathrooms: 4 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 14
- Lot Dimensions: 50x163
- Zoning: LBR2N
- Roof:
- Others: 2+ Total Units
- Sewer:
- Parking Features: Driveway
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7209026017
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
1940 Chestnut Ave Long Beach, CA 90806
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of -
