Properties
Long Beach, CA 90806 2175 Chestnut
$2,600,000
8 more
Presented By: Kevin King with Marcus & Millichap; kking@marcusmillichap.com
Baths • 1
SQFT • 8,154
Garage • 5
Home Details
We are pleased to present 2175 Chestnut Avenue, located in Long Beach, California. This 2-story, 14-unit multifamily building was originally built in 1929 and represents an excellent value-add opportunity in the desirable South Wrigley neighborhood of Long Beach. The total building area is approximately 8,154 square feet, situated on a 6,470 square-foot parcel. The unit mix consists of fourteen (14) large studio units averaging ยฑ585 square feet each. The property features new electric sub-panels and is separately metered for gas and electricity, helping to keep operating expenses low. There are also four parking spaces in the rear, which can generate additional income.
Presented By: Kevin King with Marcus & Millichap; kking@marcusmillichap.com
Interior Features for 2175 Chestnut
Other Interior Features
Common Walls1 Common Wall
Laundry FeaturesNone
Total Stories2
Other Rooms
Entry Level1
General for 2175 Chestnut
Additional Parcels Y/NNo
Building Area UnitsSquare Feet
Cap Rate5.79
CityLong Beach
Community FeaturesBiking, Curbs, Sidewalks
CountyLos Angeles
DirectionsChestnut Ave & W. Hill St.
Electric Expense3674
Entry LocationFront
Fuel Expense3674
Garage Spaces5
Garage Y/NYes
Gross Income229715
Insurance Expense10066
Land Lease Y/NNo
LevelsTwo
Listing TermsCash, Cash to New Loan, 1031 Exchange
Lot Size Square Feet6534
Lot Size UnitsAcres
MLS Area5 - Wrigley Area
MaintenanceExpense2580
Net Operating Income158795
New ConstructionNo
Number Of Units Total14
Operating Expense70920
Pool FeaturesNone
PostalCityLONG BEACH
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidential Income
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublic Sewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories Count2
Subdivision NameSouth Wrigley
Tax Lot15
Taxes$31,070
Trash Expense3674
Water Sewer Expense3674
Year Built1929
Year Built SourceAssessor
Exterior for 2175 Chestnut
Building Area Total8154
Lot Features11-15 Units/Acre
Lot Size Acres0.15
Lot Size Area0.15
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters15
Number of Separate Gas Meters0
Number of Separate Water Meters2
Private PoolNo
Total Parking5
Water SourcePublic
Additional Details
Price History
Schools
High School
Hubert H Humphrey Middle School
Middle School
N/A
Elementary School
Big Hollow Elementary School
