$2,000,000 - 1600 Chestnut Avenue, Long Beach
- 3Beds
- 2Baths
- 0SQ. Feet
- 0.17Acres
1600 Chestnut Avenue is an 11-unit multifamily investment opportunity located in Long Beach, CA. Situated on a 0.17-acre parcel, 1600 Chestnut Avenue features a mix of 9, one-bedroom units and 2, two-bedroom units above 4 garage spaces in the rear of the property. The property offers an attractive range of amenities including an on-site laundry facility, gated pedestrian access, and three garage spaces in the rear of the property. These garage spaces offer ownership the opportunity for significant additional income. The property represents a unique value-add opportunity with ample upside. With current rents well below market rates, new ownership could complete a comprehensive renovation of the units, allowing them to achieve significant rental premiums compared to non-renovated units. 1600 Chestnut Avenue benefits from its excellent location, just North of Downtown Long Beach, providing residents with convenient access to an abundance of retail, dining, and entertainment options, as well as employers. 1600 Chestnut Avenue is available in conjunction with the adjacent 2-unit property located at 1584 Chestnut Avenue.
Sales Agent
Sam SmithBeach Cities Real EstatePhone: 562-355-8228 Cell: 562-355-8228 Contact Agent NowEssential Information
- MLS® #:OC24033371
- Price:$2,000,000
- Bedrooms:3
- Bathrooms:2.00
- Acres:0.17
- Year Built:1948
- Type:Residential Income
- Sub-Type:Apartment
- Status:Closed
- Listing Agent:Tyler Leeson
- Listing Office:Marcus & Millichap RE Invest
Community Information
- Address:1600 Chestnut Avenue
- Area:699 - Not Defined
- City:Long Beach
- County:Los Angeles
- Zip Code:90813
Amenities
- Parking Spaces:3
- # of Garages:3
- Pool:None
Interior
- # of Stories:2
- Stories:Two
Exterior
- Lot Description:Street Level
Additional Information
- Date Listed:February 16th, 2024
- Days on Market:2
- Zoning:LBR4N
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Based on information from California Regional Multiple Listing Service, Inc. as of May 17th, 2024 at 1:55am CDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.