Marcus & Millichap
Listed by Marcus & Millichap
$2,600,000
2175 Chestnut
Details
APN 7205026015
Property Type Multifamily
Sub Type Apartment Building
Units 14
Cap Rate 5.79%
Buildings 1
Stories 2
Acreage 0.150
Zoning Assessor
Multifamily | 5.79% CAP | 14 Units
Marketing description
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 585 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.
Listing Contacts
Marcus & Millichap
Listed by Marcus & Millichap
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