1070 Chestnut AVE

LONG BEACH, CA, 90813

$3,500,000

$468 per ft²
$3,500,000
$468 per ft²
Active
Active
 - For Sale
carpenters-square
7,477 ft²
property_type
Multi-family
calendar
Built 1956
One Building with 12 condominiums with 12 separate parcel numbers. The entire package is for sale. Each unit is rented out at about $1,500 per unit. The total rental income of the 12 unites @ current $1,500 is $18,000. One unit gets a $500 discount for helping out with the property and the washer dryer income is about $500. So again, the total income is around $18,000 per month currently. Some upgrades have been done to the property since it was purchased a few years back. Six units are on the ground floor and Six units are upstairs. Parking is in the back and on a first come, first serve basis. Each unit has separate utilities as they are recognized as condominiums and they have separate water, gas and electric bills. The current owner is looking to sell the entire property as one package and the current owner is doing a 1031 exchange at no cost to the buyer.
MLS® ID:
OC22101403MR
Listed:
5/12/22
Updated:
5/18/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Community, Room
Fireplace
None
Cooling
None
Heating
Other

Exterior/Building Features

Lot Size
7,477 ft² lot
Exterior Features
Stucco
Sewer
Public Sewer

Other Property Details

Attached Garage
No
Parking
Assigned
Parking Total
12.0
View
Y
County
Los Angeles
Water Source
Public
Pool
No
Pool Description
None
Total Stories
2
Zoning
LBPD10

 

Courtesy of Herbie Zadeh, First Team Real Estate

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Ron Costa shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2022 Combined L.A./Westside MLS. All rights reserved.

Data last updated 5/18/22

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