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.
MLS #
CROC24033371
MLS Source
California Regional MLS
Buyer's Brokerage Compensation*
2.50
Laundry
Community Facility
Garage/Parking
Garage: 3 Car(s)
HOA Fee
$0
# Buildings | # Leased Units | # Total Units |
---|---|---|
1 | – | – |
1600 Chestnut Ave is a Residential Income in Long Beach, CA 90813. This – square foot property sits on a – Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at – and was built in 1948.
This address can also be written as 1600 Chestnut Ave, Long Beach, CA 90813.©2024 California Regional MLS. All rights reserved. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Information provided is for personal, non-commercial use by the viewer and may not be redistributed without explicit authorization from California Regional MLS.
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* The offer of compensation is made subject to the MLS rules where the listing is filed. Please contact your agent for any questions concerning this subject matter.
This listing information is up-to-date as of March 20, 2024. For the most current information, please contact Tyler Leeson, (714) 713-9086