444 Chestnut Ave, Long Beach, Los Angeles County, CA 90802

For Sale

$4,200,000 USD
Listed by Jonathan Swire with The Agency
$4,200,000 USD
  • 0.172 ac Lot Size
  • MultiFamily
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Property Summary for 444 Chestnut Ave Español?

Type
MultiFamily
Sub-Type
Other
Lot Size
0.172 Ac
MLS Number
21-745202
Year Built
1927
Stories
2
Neighborhood
West End Long Beach
Zip
90802
School District
Long Beach Unified School District

Description for 444 Chestnut Ave

19 units located blocks from Downtown Long Beach in the Historic District. All units were completely redone in 2018/2019 and are beautifully remodeled. The interior hallways were redone as well and the Seller spent over $400K on CAP EX. No work remains to be done. The building is a two-story walkup with no onsite parking, however, there are parking structures within blocks that tenants can rent from. The building also features onsite laundry in the basement. The building offers and excellent unit mix of Studio, 1 and 2 bed units. The property is Professionally Managed and very well maintained and features onsite laundry. It features a Walk score of 95 and is located just blocks from the bars and restaurants in Downtown Long Beach on Pine Ave. Downtown Long Beach is in the middle of an $8BB Redevelopment with brand new Class A apartments and retail being developed within blocks of this location. This property can be purchased individually or with 33 units located at 636 Chestnut being sold by the same Owner. Excellent financing is available through One United Bank which is offering a 5 year fixed, 5 years of I/O at 2.95% to qualified Buyers. The property will generate over an 8% cash on cash return against in place rents with upside to a 4.9% CAP. Email LA for more info including a Rent Roll and OM
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Features for 444 Chestnut Ave

Heating
  • Natural Gas
Listing provided by Combined LA Westside Multiple Listing Service, Inc
Copyright © 2021 Combined LA Westside Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Listed by:

Jonathan Swire

The Agency

Mortgage rate comparison for 444 Chestnut Ave top

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Demographics in 90802top

Population

Total population 38,962
Male population 20,513
Female population 18,449
Median age 36.40

Households

Total households 20,756
Average people per household 1.85

Housing

Total housing units 22,834
Owner occupied 4,202
Renter occupied 16,554
Median year built 1964

Income

Median household income 54,616
Average household income 72,684

Disclaimer


Demographic data shown in this section was gathered from the latest U.S. Census Bureau release, the 2019 American Community Survey. The information is updated yearly, as soon as new data is made available by the US Census Bureau.

No representation, guarantee or warranty is made as to the accuracy or completeness of information modified or aggregated for specific neighborhoods and/or zip codes.

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