1825 Chestnut AveLong Beach, CA 90806

This exceptional 12-unit apartment building in Long Beach, California, presents a compelling value-add investment opportunity. Located at 1825 Chestnut Avenue, this two-story building, constructed in 1959, boasts 8,536 square feet of net rentable space situated on a 7,500 square foot lot. The property currently features eight one-bedroom/one-bathroom units and four two-bedroom/one-bathroom units, with on-site parking including uncovered spaces and several garages (six garages are currently vacant). Currently operating at 92% occupancy, the property generates a Net Operating Income (NOI) of $175,675, representing a 5.49% capitalization rate. A pro-forma analysis projects a significantly improved NOI of $210,979 and a 6.59% capitalization rate, reflecting the substantial upside potential. The asking price is $3,200,000, translating to $266,667 per unit and $374.88 per square foot. The property's prime location near the Port of Long Beach, Shoreline Village, and major retail establishments, including Costco and Home Depot, ensures strong rental demand and future appreciation. This presents a rare chance to acquire a well-positioned multifamily asset with immediate income and significant potential for increased profitability through lease-up and parking revenue generation. The property's APN is 7209-028-020.