2024 Chestnut Avenue, Long Beach, CA 90806

Just reduced! Large 5 unit building with (3) 3-Bed Units, (1) Large 2-Bed Unit, and (1) 1-bed unit in the excellent neighborhood of South Wrigley.  The building is conveniently located less than a mile from the 710 Freeway, less than 2 miles from the 405, and just 2 miles North of the beach.  Attractive residential tree-lined street.The property is priced to sell at 10.86 GRM and a current cap rate of 5.66%.  There is approximately 7% upside in income to a market cap rate of 6.3%. It has fresh exterior paint and the electrical system was just updated in September of 2024.  There is also a detached garage building off of the back alley that has 4 spots in 3 separate garages.  Perfect ADU opportunity.