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2351 Chestnut Ave
Long Beach, CA 90806
$225K/Unit + 23% Upside · Multifamily Property For Sale
·
6 Units
Investment Highlights
- Five out of Six Units Renovated since 2016
- Approx. 23% Upside by Increasing Rents, Renting Garages & Implementing a RUBS Program
- Five On-Site Garages Can Generate an Additional $1000 Per Month
- Main Electrical Panel Upgraded to 200 AMP Service & 60 AMP circuit breakers were installed in 2015
- 5.98% Pro Forma Cap Rate & 12.25 GRM at Market Rents
- 100% Single-Story Construction
Property Facts
| No. Units | 6 | Building Size | 2,754 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1929/2016 |
| Building Class | C | Parking Ratio | 1.82/1,000 SF |
| Lot Size | 0.15 AC | ||
| Zoning | R1N, Long Beach - Single-family Residential, standard lot | ||
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 2,754 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1929/2016 |
| Parking Ratio | 1.82/1,000 SF |
| Zoning | R1N, Long Beach - Single-family Residential, standard lot |
Amenities
Unit Amenities
- Heating
Site Amenities
- Laundry Facilities
- Key Fob Entry
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,244 | - |
Property Taxes
| Parcel Number | 7205-014-020 | Improvements Assessment | $811,824 |
| Land Assessment | $636,724 | Total Assessment | $1,448,548 |
Property Taxes
Parcel Number
7205-014-020
Land Assessment
$636,724
Improvements Assessment
$811,824
Total Assessment
$1,448,548
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