206-208 Chicago Ave, Huntington Beach, CA 92648
5 Unit Apartment Building | $2,700,000 ($540,000/Unit) | 4.33% Cap Rate | Huntington Beach, CA 92648
For Sale
Active
14 pictures
Asking Price $2,700,000
- Property Type
-
Multifamily
- Square Feet
- 2,400 SF
Listing Contacts
Matt Kanoudi
Property Overview
UNBELIEVABLE INVESTMENT OPPORTUNITY to become the next owner of an amazing, newly-remodeled 5 unit complex located on a DOUBLE LOT in the heart of Downtown Huntington Beach! There are two buildings on-site, one with 3 units in the front and one with 2 units in the back. Each unit is a 1 bed/1 bath with 480 sq of living space and their own respective patio/yard areas in front. When I say remodeled, I mean it was a COMPLETE renovation. Some of the upgrades include: brand new roof, new sewer lines, new PEX plumbing, new gas lines, new electrical (panels, meters, wires, outlets, switches, lights), new cabinets, New appliances (microwave, range (gas), dishwasher, W/D hookups (gas), new flooring, new paint, new hardscape/landscape, irrigation, new stucco and stacked stone, new doors and windows, New shower tile/glass (each unit has different color), and more! Each unit has its own parking spot at the rear of the property. After the remodel, the owner signed all new tenants with one year leases that initiated in August of 2023 at fair market rent for that time. Not easy finding a double lot investment property let alone one that is remodeled top to bottom and located within 3 blocks of the ocean and Pacific City. As of the moment writing this, there is nothing like it on the market in the area so do not wait to act as opportunities like these are fleeting.
Property Details
- Class
- C
- Year Built/Renovated
- 1956/2023
- Stories
- 1
- Lot Size (sq. ft)
- 6,534 SF
- Units
- 5
Highlights
- Walking distance to the beach, Downtown, and Pacific City
- Completely renovated in 2023, new roof, upgraded all units, new plumbing and electrical, air conditioning, laundry, etc
- All prior tenants were removed and new tenants signed for 1 year leases at fair market rent in August of 2023
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