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$400,000 Price Reduction! Pro Forma Cap Rate 6.7%. Huge Potential!
Newer, Large Units in Long Beach ($299,999/Unit). Motivated Seller!
1918 Chestnut Ave Long Beach,
CA 90806
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MLS# OC22247751 | Asking: $3,599,000 |
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| $400,000 Price Reduction! Attention investors and 1031 exchange buyers! Potential: premium custom built with excellent floor plans, 12 units in the coastal city of Long Beach. Close to downtown, schools, memorial hospital, shopping and entertainment areas, close to metro line, 405 and 710 freeways. building has over 10,000 sq ft of livable area over its 12 units. Here are 10 reasons why this can be the best investment in Long Beach! 1. More than 35% rental increase potential giving 6.7% cap rate (absentee owners). 2. Largest sq ft per unit in the area. 3. Lowest price per sq ft on sold or listed similar properties. 4. Fully secured and gated, with covered 19 car garage (3 uncovered spots). 5. Beautifully large 12 units, with 10 units 2b/2ba and only 2 units 1b/1ba. 6. On site laundry. 7. Most units maintained well & remodeled (see supplement for details). 8. Custom built in 1987 and well maintained (not the 1930's and 40's). 9. Covered balconies, with some having awesome city views. 10. Extremely desirable and low vacancy rental area. particularly because of secured and covered parking. excellent 1031 exchange property for investors who want to become an owner in this city, which currently has over $8b in development occurring. subject property is a 1031 exchange, new properties are identified. | ||||
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