1620 Chestnut Avenue
Long Beach, CA 90813
- – beds
- – baths
- – sqft
- 7,503 sqft lot
- 1917 build
- – on site
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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.
Listed By CRMLS_CA / John Alden / Alden Pacific Investments, Inc.
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Last updated Apr 19, 2024
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MLS# SB20240042 —
Walk Score®
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Soundscore™
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Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
4/30/21
Apr 30, 2021
|
Sold | CRMLS_CA | $1,175,000 | -2.0% |
2/10/21
Feb 10, 2021
|
Pending | CRMLS_CA | $1,199,000 | |
11/15/20
Nov 15, 2020
|
Listed / Active | CRMLS_CA | $1,199,000 |