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Long Beach, CA 90813 1620 Chestnut Avenue

$1,199,000

Sold: Apr 30, 2021
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Presented By: John Alden with Alden Pacific Investments, Inc.;
  • MLS# SB20240042
  • 11/15/2020
  • Request Tour
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  • BedBeds • 4
  • BathBaths • 4
  • GarageGarage • 4

Home Details

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.
Presented By: John Alden with Alden Pacific Investments, Inc.;

Interior Features for 1620 Chestnut Avenue

Bedrooms

1st Bedroom Area Unit TypeSquare Feet
2nd Bedroom Area Unit TypeSquare Feet
3rd Bedroom Area Unit TypeSquare Feet

Other Interior Features

Common Walls1 Common Wall
Laundry FeaturesSee Remarks

General for 1620 Chestnut Avenue

Additional Parcels Y/NNo
Community FeaturesUrban
Garage Spaces4
Garage Y/NYes
Land Lease Y/NNo
LevelsTwo
Listing AgentJohn Alden - BRE#02114291
Listing AgentJohn Alden - BRE#02114291
Listing Agent State License02114291
MLS Area5 - Wrigley Area
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property TypeResidential Income
Senior Community Y/NNo
SewerPublic Sewer
Special Listing ConditionsStandard
StatusClosed
Subdivision NameWrigley Area (WR)
TermsCash, Cash to New Loan, 1031 Exchange
Total Units4
Water Sewer Expense960
ZoningLBR4N

Exterior for 1620 Chestnut Avenue

Lot Features2-5 Units/Acre
Lot Size Acres0.17
Lot Size Area7503
Lot Size SourceAssessor
Lot Size Square Feet7503
Lot Size UnitsSquare Feet
Number of Buildings1
Number of Separate Electric Meters4
Number of Separate Gas Meters4
Number of Separate Water Meters1
Total Parking4
Water SourcePublic
1527188455

First Team Client Services

Price $1,199,000
MLS#SB20240042
List Date 11/15/2020
Property Type Income
Phone 714.964.3311
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Request Info
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CRMLS Compliance Statements & Disclaimers

*According to the National Association of Realtors