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1918 Chestnut AVE Long Beach, CA 90806
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Key Details
Sold Price $1,700,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Wrigley Area (Wr)
MLS Listing ID SB14029777
Sold Date 05/01/14
HOA Y/N No
Year Built 1987
Tax Year 2012
Lot Size 8,145 Sqft
Property Description
Drive by only, tenants are not aware of sale! Premium quality, custom built in 1987, this fully gated complex is located close to schools, shopping, the Long Beach Memorial Hospital, and the 405 and 710 freeways. With over 10,000 square feet of living space, there are ten 2 bedroom/2 bath units and two 1 bedroom/1 bath units, all with private covered balconies and all units are generous sized with exceptional floorplans. Ground level garage parking for 19 cars, and an additional 3 uncovered spaces. Additionally, there is an on site laundry with owned machines for extra income. In the past 2 years, 7 of the 12 units were renovated and upgraded with porcelain tile floors, two tone paint, and partially remodeled kitchens and baths. Total monthly rental revenue is approximately $13,000, and there is assumable financing of 4.43% fixed for eight more years! Fully occupied, many of the tenants have called the complex home for several years.
Priced below average cost per door of the most recent sales for 1987 and newer buildings in Long Beach, and this complex has larger, two bedroom, two bath units, with nicer amenities and more highly upgraded units.
Location
State CA
County Los Angeles
Area 5 - Wrigley Area
Interior
Fireplace No
Exterior
Garage Assigned
Garage Spaces 19.0
Carport Spaces 3
Garage Description 19.0
Pool None
Community Features Curbs
Utilities Available Sewer Available
Total Parking Spaces 22
Private Pool No
Building
Lot Description 11-15 Units/Acre
Story 3
Entry Level Three Or More
Water Public
Level or Stories Three Or More
Others
Tax ID 7209026023
Acceptable Financing Submit
Listing Terms Submit
Financing Assumed
Special Listing Condition Standard
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Bought with Mike Sadeghi • Pridemark Group