811 Chestnut Ave, Long Beach, CA 90813

811 Chestnut Ave, Long Beach, CA 90813

Long Beach, CA

Property Description

Located just outside of booming Downtown Long Beach, 811 Chestnut Ave is a well-maintained 4- plex with (3) tenant ready 1Bed+1Bath units. Once the tenant ready units are rented out for market, the property will gross $6,160/month and operate at a 4.63% CAP and 14.88 GRM. 811 Chestnut Ave is the ideal investment for any owner/user looking to live in a unit and have their neighbors pay their mortgage! 811 Chestnut Ave is comprised of (4) 1Bed+1Bath units, approximately 650 SF each. (1) Unit has been completely renovated, featuring new flooring, appliances, fixtures and windows. The subject property is located just outside the $6 Billion of development flooding into Downtown LB, including the Long Beach Civic Center, Long Beach Aquarium, OceanAire Project, CSULB Project, CSULB Downtown Village, Broadway Block, The Pacific and Queen Mary Island.

Property Features

  • Sale Price: $1,000,000
  • Area Size: 2,508 Sq. Ft.
  • Land Area: 2,568 Sq. Ft.
  • Year Built: 1923
  • Listing Date: 5/24/2022
  • Closing Date: 9/30/2022
  • Units: 4
  • Current GRM: 14.88
  • Current Cap Rate: 4.63%
  • Market GRM: 13.69
  • Market Cap Rate: 5.20%