Long Beach, CA 90806 1885 Chestnut Avenue
$1,899,000
Pending
7 more
Presented By: Branden Chhuor with Compass; 213-536-9669
- MLS# PW25018988
- 01/27/2025
Disclaimer: The information contained in this listing has not been verified by Sell Buy OC Homes and should be verified by the buyer.
Beds • 17
Baths • 8
SQFT • 6,523
Garage • 4
Home Details
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. There’s 4 individual garages, laundry room, & spacious courtyard.
Presented By: Branden Chhuor with Compass; 213-536-9669
Interior Features for 1885 Chestnut Avenue
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsNoCommonWalls
Fireplace FeaturesNone
Fireplace Y/NNo
FlooringLaminate, Vinyl
Heating Y/NYes
Interior AmenitiesMultipleStaircases, AllBedroomsUp, AllBedroomsDown
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 1885 Chestnut Avenue
AccessibilityNone
Additional Parcels Y/NNo
AppliancesGasRange
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate6.4
Carport Y/NNo
CityLong Beach
Community FeaturesSidewalks
CoolingNone
CountyLos Angeles
DirectionsPCH and Chestnut Ave
Electric Expense1100.0
Electric On Property Y/NNo
Entry LocationEast
Fuel Expense0.0
Garage Spaces4.0
Garage Y/NYes
Gross Income0.0
HOANo
HOA Fee$0.0
HeatingCentral
Home Warranty Y/NNo
Insurance Expense14000.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCashToNewLoan, Conventional
Lot Size Square Feet7487.0
Lot Size UnitsSquareFeet
MLS Area5 - Wrigley Area
MobileHomeRemainsYNNo
Net Operating Income124690.0
New ConstructionNo
Number Of Units Total8
Number of Units Leased7
Operating Expense64700.0
Pool FeaturesNone
Property Attached Y/NNo
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
RoofShingle
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusPending
StatusPending
Stories2
Subdivision NameWrigley Area (WR)
Tax Lot4
Taxes$23,400
Tenant PaysElectricity
Total Actual Rent7.0
Trash Expense1000.0
UtilitiesElectricityAvailable, ElectricityConnected, NaturalGasAvailable, NaturalGasConnected, SewerAvailable, SewerConnected, WaterAvailable, WaterConnected
ViewNone
Water Sewer Expense10000.0
Waterfront Y/NNo
Year Built1944
Year Built SourceAssessor
ZoningLBR2N
Exterior for 1885 Chestnut Avenue
Building Area Total6523.0
Crops Included Y/NNo
FencingWroughtIron
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesZeroToOneUnitAcre
Lot Size Acres0.1719
Lot Size Area7487.0
Lot Size SourceAssessor
Number of Buildings2
Number of Separate Electric Meters7
Number of Separate Gas Meters7
Number of Separate Water Meters7
Open Parking Y/NNo
Parking FeaturesAssigned
Private PoolNo
SpaNo
Total Parking4.0
Water SourcePublic
Additional Details
Price History
Hal Schlegel
Broker Associate