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1027-1031 Chestnut Ave
Long Beach, CA 90813
6.68% Pro Forma Cap Rate · Multifamily Property For Sale
·
8 Units
Property Facts
| No. Units | 8 | Lot Size | 0.16 AC |
| Property Type | Multifamily | Building Size | 3,520 SF |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1923/2016 |
| Building Class | C | Parking Ratio | 0.93/1,000 SF |
| Zoning | PD10 | ||
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 3,520 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1923/2016 |
| Parking Ratio | 0.93/1,000 SF |
| Zoning | PD10 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Public Transportation
- Smoke Detector
About 1027-1031 CHESTNUT AVE , LONG BEACH, CA 90813
Incredible value add opportunity in the heart of Downtown Long Beach. Roughly 25% upside in monthly income and a 6.68% cap rate at realistic market rents. Three Buildings: (1) 3 Bed / 2 bath detached house, (5) - Studios and (2) - Studios above a 3 car garage. Modest Renovations/Improvements made over the past 3 years including new kitchen & bathroom tiling, refinished original hardwood flooring and crown molding in the detached house, new gas ranges and two-tone interior paint.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 7 | $957.50 | 300 - 320 |
| 3+2 | 1 | $2,095 | 1,038 |
Property Taxes
| Parcel Number | 7272-007-008 | Improvements Assessment | $429,473 |
| Land Assessment | $992,809 | Total Assessment | $1,422,282 |
Property Taxes
Parcel Number
7272-007-008
Land Assessment
$992,809
Improvements Assessment
$429,473
Total Assessment
$1,422,282
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