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2024 Chestnut AVE Long Beach, CA 90806
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Key Details
Sold Price $1,290,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Subdivision Wrigley Area (Wr)
MLS Listing ID SB24215716
Year Built 1928
Lot Size 6,398 Sqft
Property Sub-Type Apartment
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
Area 5 - Wrigley Area
Zoning LBR2N
Interior
Heating Wall Furnace
Cooling None
Flooring Carpet, Tile, Vinyl
Fireplaces Type None
Laundry Common Area
Exterior
Parking Features Garage Faces Rear
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Suburban
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N No
View None
Roof Type Flat,Tile
Building
Lot Description 0-1 Unit/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash to New Loan, Conventional
Listing Terms Cash to New Loan, Conventional
Special Listing Condition Standard
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Bought with Marc Habib • Buckingham Investments, Inc