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Sold Date4/30/2021
Closed

1620 Chestnut AvenueLong Beach, California CA90813-1625

Listing IDSB20240042

4,028 SqFt 0.172 Acres

$1,175,000

1620 Chestnut is a large 4-unit investment property located in Long Beach, CA. Situated on a large 7,503 square foot lot, the subject property boasts a strong unit mix of (3) 2BD/1BA units and (1) 3BD/1BA unit. One of the 2BD units has been immaculately redone by the owner and will be delivered vacant. The property has multiple tenant amenities including laundry hookups in 3 of 4 units, and 4 detached garages. The owner has kept all capital systems in good condition. Property is being sold at a 4.2% CAP rate and 15.67 GRM with a 23% upside in rents to a market CAP rate of 5.9% and a 12.11 GRM. This building makes a great addition to any investor's portfolio.
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