1036 Chestnut Ave
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
1036 Chestnut Ave
7 Unit Apartment Building $1,450,000 ($207,143/Unit) 5.70% Cap Rate Long Beach, CA 90813
Executive Summary
Marcus and Millichap is 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 is also separately metered for gas and electricity which helps keep expenses to a minimum. There are a total of 7 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.
restaurants, cafes, entertainment centers and grocery stores.
Property Facts
| Price | $1,450,000 | Apartment Style | Low Rise |
| Price Per Unit | $207,143 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.70% | Building Size | 3,770 SF |
| Gross Rent Multiplier | 11.04 | No. Stories | 2 |
| No. Units | 7 | Year Built/Renovated | 1949/1960 |
| Property Type | Multifamily | Parking Ratio | 1.66/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $1,450,000 |
| Price Per Unit | $207,143 |
| Sale Type | Investment |
| Cap Rate | 5.70% |
| Gross Rent Multiplier | 11.04 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 3,770 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1949/1960 |
| Parking Ratio | 1.66/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Heating
- Oven
- Tub/Shower
- Pantry
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | $1,795 | - |
1 of 1
Walk Score ®
Very Walkable (89)
Transit Score ®
Excellent Transit (70)
Bike Score ®
Very Bikeable (84)
PROPERTY TAXES
| Parcel Number | 7272-006-030 | Improvements Assessment | $490,596 |
| Land Assessment | $534,325 | Total Assessment | $1,024,921 |
PROPERTY TAXES
Parcel Number
7272-006-030
Land Assessment
$534,325
Improvements Assessment
$490,596
Total Assessment
$1,024,921
zoning
| Zoning Code | LBPD10 |
| LBPD10 |
-
Kevin King -
King Group of Marcus & Millichap
1 of 14
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
1036 Chestnut Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.