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Listed by Kevin King • Marcus & Millichap
$ 1,400,000
Est. payment | /mo
3,770 SqFt
$ 1,400,000
Est. payment | /mo
3,770 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 3,770 sqft
Price per Sqft $371
MLS Listing ID CRPW24201199
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1949
Lot Size 7,478 Sqft
Property Sub-Type Other
Property Description
We are pleased to present a 7 unit apartment building located at 1036 Chestnut Avenue in Long Beach, California. This is a value-add opportunity in a great location of Willmore in Long Beach. The subject property is close to St Mary Medical Center, 4th Street Retro Row, Downtown Long Beach and 2nd Street in Belmont Shore where there are restaurants, shops, bars, grocery stores and entertainment venues. The subject property consists 3,770 rentable square feet spread throughout a 7,478 square foot lot. Units 1-6 was built in 1960 and unit A was built in 1949. All units are one bedroom / one bathroom units. The subject property has new electrical subpanels and is also separately metered for gas and electricity which helps keep expenses to a minimum. There are a total of 4 parking spaces in the rear which are able to generate income as well. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean breeze and walking distance to shops, restaurants, cafes, entertainment centers and grocery stores. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment.
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry No Hookups
Building
Water Public
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Adam Shoop
Broker Associate at Exp Realty | Lic# 1782227