Listed by Mike Sadeghi, Pridemark Group,

1918 Chestnut Avenue

Long Beach, CA, 90806

$3,999,000

$378 per ft²
$3,999,000
$378 per ft²
Active
Active
 - For Sale
carpenters-square
10,560 ft²
property_type
Multi-family
calendar
Built 1987
ATTENTION INVESTORS and 1031 EXCHANGE BUYERS! POTENTIAL: Premium custom built with excellent floor plans, 12 units in the coastal city of Long Beach. Close to downtown, schools, memorial hospital, shopping and entertainment areas, close to Metro Line, 405 and 710 freeways. Building has over 10,000 sq ft of livable area over its 12 units. Here are 10 reasons why this can be the best investment in Long Beach! 1. More than 30% rental increase potential (absentee owners). 2. Largest sq ft per unit in the area. 3. Lowest price per sq ft on sold or listed similar properties. 4. Fully secured and gated, with covered 19 car garage (3 uncovered spots). 5. Beautifully large 12 units, with 10 units 2B/2Ba and only 2 units 1B/1Ba. 6. On site laundry. 7. Most units maintained well & remodeled (see supplement for details). 8. Custom built in 1987 and well maintained (not the 1930's and 40's). 9. Covered balconies, with some having awesome city views. 10. Extremely desirable and low vacancy rental area. Particularly because of secured and covered parking. Excellent 1031 Exchange property for investors who want to become an owner in this city, which currently has over $8B in development occurring. SUBJECT PROPERTY IS A 1031 EXCHANGE, NEW PROPERTIES ARE IDENTIFIED.
MLS® ID:
OC22247751
Listed:
11/26/22
Updated:
1/30/23

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Common Area

Exterior/Building Features

Lot Size
8,150 ft² lot
Architectural Style
Contemporary
Lot Details
11-15 Units/Acre
Roof
Composition, Shingle
Sewer
Public Sewer

Other Property Details

Area Name
5 - Wrigley Area
Association Amenities
Park, Urban
Garage
Yes
Garage Spaces
19
Parking
22
Parking Total
22.0
View
Y
County
Los Angeles
Water Source
Public
Pool
No
Pool Description
None
Zoning
LBR2N
Buyer Agency Compensation
2.000

Listed by Pridemark Group, Mike Sadeghi,
Listing Contact:  

Based on information from California Regional Multiple Listing Service, Inc. as of 1/30/23. 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.

©2023 California Regional Multiple Listing Service. All rights reserved.

Data last updated 8:36 AM UTC, 1/30/23

Contact