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1633 Chestnut Ave

10 Unit Apartment Building $2,190,000 ($219,000/Unit) 6.01% Cap Rate Long Beach, CA 90813

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Investment Highlights

Interior was renovated back in 2018

Executive Summary

Great 10 Unit Investment property! All unit interior has been renovated in 2018. New electrical main panel installed.
Property is conveniently located near Shoreline Village, Long beach convention center, the pike outlets, and more!

Financial Summary (Actual - 2024)	Annual	Annual Per SF
Gross Rental Income	$189,660	$29.18
Other Income	$7,800	$1.20
Vacancy Loss	$5,924	$0.91
Effective Gross Income	$191,536	$29.47
Taxes	$29,174	$4.49
Operating Expenses	$30,745	$4.73
Total Expenses	$59,919	$9.22
Net Operating Income	$131,617	$20.25

Financial Summary (Actual - 2024)

Gross Rental Income
Annual	$189,660
Annual Per SF	$29.18

Other Income
Annual	$7,800
Annual Per SF	$1.20

Vacancy Loss
Annual	$5,924
Annual Per SF	$0.91

Effective Gross Income
Annual	$191,536
Annual Per SF	$29.47

Taxes
Annual	$29,174
Annual Per SF	$4.49

Operating Expenses
Annual	$30,745
Annual Per SF	$4.73

Total Expenses
Annual	$59,919
Annual Per SF	$9.22

Net Operating Income
Annual	$131,617
Annual Per SF	$20.25

Property Facts Under Contract

Price	$2,190,000	Apartment Style	Low Rise
Price Per Unit	$219,000	Building Class	C
Sale Type	Investment	Lot Size	0.17 AC
Cap Rate	6.01%	Building Size	6,500 SF
Gross Rent Multiplier	11.09	Average Occupancy	100%
No. Units	10	No. Stories	2
Property Type	Multifamily	Year Built	1958
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$2,190,000
Price Per Unit	$219,000
Sale Type	Investment
Cap Rate	6.01%
Gross Rent Multiplier	11.09
No. Units	10
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.17 AC
Building Size	6,500 SF
Average Occupancy	100%
No. Stories	2
Year Built	1958
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.