1600 Chestnut Avenue
Long Beach, CA 90813
- – beds
- – baths
- – sqft
- 7,405 sqft lot
- 1948 build
- – on site
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1600 Chestnut Avenue is an 11-unit multifamily investment opportunity located in Long Beach, CA. Situated on a 0.17-acre parcel, 1600 Chestnut Avenue features a mix of 9, one-bedroom units and 2, two-bedroom units above 4 garage spaces in the rear of the property. The property offers an attractive range of amenities including an on-site laundry facility, gated pedestrian access, and three garage spaces in the rear of the property. These garage spaces offer ownership the opportunity for significant additional income. The property represents a unique value-add opportunity with ample upside. With current rents well below market rates, new ownership could complete a comprehensive renovation of the units, allowing them to achieve significant rental premiums compared to non-renovated units. 1600 Chestnut Avenue benefits from its excellent location, just North of Downtown Long Beach, providing residents with convenient access to an abundance of retail, dining, and entertainment options, as well as employers. 1600 Chestnut Avenue is available in conjunction with the adjacent 2-unit property located at 1584 Chestnut Avenue.
Listed By CRMLS_CA / Tyler Leeson / Marcus & Millichap RE Invest / 714-713-9086
Last checked:
Checking…
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Last updated Mar 20, 2024
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MLS# OC24033371 —
The Building
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Year Built:1948
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Year Built Source:Assessor
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New Construction:No
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Building Area Total:7220.00
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Building Area Units:Square Feet
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Total Number Of Units:11
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# of Buildings:1
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Stories Total:2
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Entry Level:1
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Common Walls:No Common Walls
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# of Separate Gas Meters:1
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# of Separate Water Meters:1
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# of Separate Electric Meters:11
Interior
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Levels:Two
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Entry Location:First Level
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Laundry:Community
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Laundry:1
Location
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Directions:Cross Streets of Chestnut Avenue & West 15th Street
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Latitude:33.78720200
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Longitude:-118.19597600
The Property
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Property Type:Residential Income
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Subtype:Apartment
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Zoning:LBR4N
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Lot Features:Level with Street
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Lot Size Area:0.1700
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Lot Size Acres:0.1700
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Lot Size SqFt:7405.20
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Lot Size Source:Assessor
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Block:7
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Tax Census Tract:5754.01
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Tax Tract:575401
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Tax Lot:12
The Listing
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Special Listing Conditions:Standard
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Parcel Number:7269039008
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Features:Curbs, Gutters, Sidewalks
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Association:No
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Pool:None
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Senior Community:No
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Private Pool:No
Parking
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Parking Spaces:3.00
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Garage Spaces:3.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
3/20/24
Mar 20, 2024
|
Sold | CRMLS_CA | $1,850,000 | -7.5% |
3/13/24
Mar 13, 2024
|
Pending | CRMLS_CA | $2,000,000 | |
2/19/24
Feb 19, 2024
|
Sold Subject To Contingencies | CRMLS_CA | $2,000,000 |