1070 Chestnut Avenue, Long Beach, CA 90813
- $3,500,000
- List Price
- $3,500,000
- Status
- ACTIVE
- MLS#
- OC22101403
- Year Built
- 1956
- Lot Size
- 7,477
- Acres
- 0.1716
- Lot Location
- Item1115UnitsAcre, Level, Rectangular Lot
- Days on Market
- 46
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- Two Levels
- Neighborhood
- North Long Beach (Nlb)
Property Description
One Building with twelve (12), One (1) bedroom and one (1) bathroom apartments. Each apartment unit is rented out at about $1,500 per unit. The total rental income of the 12 unites @ current $1,500 is $18,000 per month. One unit gets a $500 discount (minus) for helping out with the property and the washer dryer income is about $500 (plus). So again, the total income is around $18,000 per month currently. Some upgrades have been done to the property since it was purchased a few years back. Six (6) units are on the ground floor and Six (6) units are upstairs. Parking is in the back and on a first come, first serve basis. Each apartment unit has separate utilities and they have separate water, gas and electric bills. Each tenant pays for their own utilities. Great location and just a couple of miles from the Pacific Ocean, great ocean breeze. Easy Access from multiple roads and lots of amenities to enjoy.
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Additional Information
- Pool Description
- None
- Heat
- See Remarks
- Cooling Description
- None
- View
- Trees/Woods
- Exterior Construction
- Stucco
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- AllBedroomsUp, AllBedroomsDown, BedroomonMainLevel, MainLevelMaster
- Attached Structure
- Attached
- Number Of Units Total
- 12
- Gross Scheduled Income
- $216,000
- Operating Expense
- 6000
Mortgage Calculator
Listing courtesy of Listing Agent: Herbie Zadeh from Listing Office: First Team Real Estate
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.