Description

We are pleased to present a 7 unit apartment building located at 1036 Chestnut Avenue in Long Beach, California. This is a value-add opportunity in a great location of Willmore in Long Beach. The subject property is close to St Mary Medical Center, 4th Street Retro Row, Downtown Long Beach and 2nd Street in Belmont Shore where there are restaurants, shops, bars, grocery stores and entertainment venues. The subject property consists 3,770 rentable square feet spread throughout a 7,478 square foot lot. Units 1-6 was built in 1960 and unit A was built in 1949. All units are one bedroom / one bathroom units. The subject property is also separately metered for gas and electricity which helps keep expenses to a minimum. There are a total of 7 parking spaces in the rear which are able to generate income as well. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean breeze and walking distance to shops, restaurants, cafes, entertainment centers and grocery stores. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment.