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Listed by Tyler Leeson of Marcus & Millichap RE Invest (714-713-9086)

Listing Sold by Keller Williams Coastal Prop.
2383 Chestnut Avenue is an 8-unit multifamily investment opportunity located in Long Beach, CA. 2383 Chestnut Avenue offers a mix of studio, one, and two-bedroom units with amenities including a spacious gated front yard, a sundeck, and five garage spaces. Additionally, these garage spaces provide new ownership with a potential additional revenue stream. Long Beach’s continued strong rental metrics, including a 2022 vacancy rate of just 4 percent and year-over-year rent growth of 8.5 percent, provide a new owner with the opportunity to take advantage of the substantial demand for rental units in the area. With current rents below market rates, 2383 Chestnut Avenue represents an attractive opportunity for a new owner. 2383 Chestnut Avenue benefits from its excellent location in the South Wrigley neighborhood of Long Beach. Residents enjoy convenient access to everyday needs at Wrigley Market, an Albertsons anchored retail center located blocks from the property. Additionally, 2383 Chestnut Avenue is just over 1.75 miles from the abundance of retail, dining, and entertainment options in Downtown Long Beach. Furthermore, the property benefits from its optimal location near Willow Street (Sepulveda Boulevard), Pacific Coast Highway, and Interstates 405 and 710, providing residents easy access to employment hubs throughout Southern California. In summary, 2383 Chestnut Avenue’s fantastic location offers residents a wide variety of activities, employment, transportation, and retail amenities, all of which will attract a diverse renter pool. This overall demand for a well-located and maintained apartment building will be a key driver in the continued growth and success at 2383 Chestnut Avenue.

Property Details of 2383 Chestnut Avenue

Property Details

Exterior Features

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Based on information submitted to CRMLS as of July 23, 2024 10:21 AM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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