2175 Chestnut Ave - Apartments FOR SALE


Long Beach, CA 90806- Wrigley
$2,600,000 USD
562-257-1200
2175 Chestnut Ave, Long Beach, CA for Sale
$2,600,000 USD
Apartments - FOR SALE
1/13
null | 5.78% Cap Rate

2175 Chestnut Ave
Long Beach, CA 90806
Wrigley


HIGHLIGHTS

  • Fourteen Large Studio Units Averaging ±585 Square Feet
  • Value-Add Opportunity
  • Five Single Car Garages For Additional Income or ADU Potential (Buyer to Verify)
  • A Quiet Neighborhood of South Wrigley Surrounded by 1260 Single Family Residences Within a Half-Mile Radius
  • Close to California State University Long Beach (CSULB), Hospitals, Long Beach Airport, and Downtown Long Beach and Convention Center
  • Nearby and Easy Access to Interstate Freeways and Mass Transportation

OVERVIEW

Marcus & Millichap, as the exclusive listing agent, is pleased to present 2175 Chestnut Avenue, located in Long Beach, California. This 2-story, 14-unit multifamily building was originally built in 1929 and represents an excellent value-add opportunity in the desirable South Wrigley neighborhood of Long Beach. The total building area is approximately 8,154 square feet, situated on a 6,470 square-foot parcel. The unit mix consists of fourteen (14) large studio units averaging 585 square feet each. The property features new electric sub-panels and is separately metered for gas and electricity, helping to keep operating expenses low. There are also four parking spaces in the rear, which can generate additional income.

FOR SALE DETAILS

PRICE

$2,600,000 USD

PRICE/SF

$319 USD /SF

# OF UNITS

14

PRICE/UNIT

$185,714

CAP RATE

5.78%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1929

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,360 SF

ZONING

R2N, Long Beach

APN/PARCEL ID

7205-026-015

ASK ABOUT THIS PROPERTY

Kevin KingKing Group of Marcus & MillichapMore Info
562-257-1200

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Kevin KingKing Group of Marcus & MillichapMore Info
562-257-1200

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.