$ 1,195,000
-
$1,195,000
Price -
10
Bed -
8
Bath -
4,276
SqFt
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About the Listing SB1301700 - sbwalkant,sbessjosh
Cheapest full sized 5 unit in the whole city at only $279/square foot. 100% 2 bedroom units: three with 2 baths, two with 1 bath. Average unit size of over 850 square feet. Skip the smaller properties and go straight to commercial positive leverage with rates in the high 5%'s and a 6.2% cap rate on actual rents. Very strong in-place income at 9.8X GRM on actuals with 13% upside to 8.7X GRM and a market cap rate of 7.4%. Electrical main panels and sub-panels replaced in 2000. 3 out of 5 units remodeled and leased in the last 2 years. 5 garages in rear for 1:1 parking ratio. Convenient location in the Washington neighborhood 1 block from Washington Middle School, currently undergoing a massive $176M reconstruction project. Excellent transit access only a few blocks to the metro blue line rail station, PCH, and the 710 freeway. Just 7 blocks North of Downtown Long Beach, with ongoing new developments of over $8 billion. Over 60% of households within 5 miles are renters with an average household income of over $94,000 (CoStar).
Listing Highlights for 1471 Chestnut
Status
Active With Contingency
Days on Site
19
Property Type
Multi-Family
MLS ®
SB25233625
Year Built
1925
Total Square Footage
4,276
Lot/Acreage
0.11
Interior Details
- Bedrooms: 10
- Bathrooms: 8 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Rectangular Lot,No Land Lease
- Garage Capacity: 5 car
- Parking Spaces: 5
- Roof: Flat
- Others: 2+ Total Units
- Sewer: Public Sewer
- Parking Features: Garage Faces Rear
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7269040030
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
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Listing Location
Questions About..
1471 Chestnut Long Beach, CA 90813
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