206 Chicago Avenue

Huntington Beach, CA 92648

$3,250,000
Price
5
Beds
5
Baths
2,400 Sq. Ft.
$1,354 / Sq. Ft.
2,400
Sq. Ft.
$1,354
per Sq. Ft.

Description

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,...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.
  1. Listed by Matthew Kanoudi • DRE #01419924 • Brokerage DRE #01359009 • The L3 • 714-655-6868

Property Details for 206 Chicago Avenue

Parking Spaces Total
5
Private Pool
No
Cooling Type
Other/Remarks
Total Units
5.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
2400
Assessor Parcel Number
024-203-20

Location

Listing Courtesy of The L3, Matthew Kanoudi, DRE #01419924
Add your commute
LISTING UPDATED: 03/14/2024 06:44 AM

Property Details for 206 Chicago Avenue

StatusActive
MLS #OC24051859
Days on Market47
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1956
CountyOrange County

Location

Listing Courtesy of The L3, Matthew Kanoudi, DRE #01419924
Add your commute

Building Information for 206 Chicago Avenue

Building/Complex206 Chicago AveFloor-Stories1Residences-Pet Policy-Year Built1956Building Size-

Payment Calculator

$19,762 per month

30 year fixed, 7.25% Interest

Principal and Interest

$17,737

Property Taxes

$2,025

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 206 Chicago Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $160,200
  • Gross Scheduled Income: $160,200
  • Net Operating Income: $116,365
Expense Details
  • Operating Expense: $43,385
  • New Taxes Expense: $35,000
  • Electric Expense: $0
  • Insurance Expense: $2,125
  • Professional Management Expense: $0
  • Other Expense: $2,870
  • Trash Expense: $2,760
  • Water Sewer Expense: $1,080
  • Total Expenses: $43,385
Tax / Assessment Info
  • Tax Block: 202
  • Tax Tract Number: 813
  • Tax Census Tract: 993.06
  • CFD/Mello-Roos Fee: $1,292
  • Tax Lot: 18
Community / Development
Community / Development
  • Community Features: Suburban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Gas & Electric Dryer Hookup, Gas Dryer Hookup, Washer Hookup
  • Cooling: See Remarks
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Level with Street
  • Number Of Units: 5
  • Land Lease: No
  • Land Lease Type: Fee
  • Topography: Level
  • Levels: One
  • Water: Public
  • Sewer: Sewer Paid
  • Sewer/Septic: Sewer Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Uncovered Spaces: 5
  • Open Other Spaces Total: 5
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Downtown Area
  • Builders Tract Code: Downtown Area (DOWN)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,700
  • Unit Type Total Rent: $2,700
  • Unit Type Pro Forma: 2700
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,700
  • Unit Type Total Rent: $2,700
  • Unit Type Pro Forma: 2700
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,650
  • Unit Type Total Rent: $2,650
  • Unit Type Pro Forma: 2650
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,650
  • Unit Type Total Rent: $2,650
  • Unit Type Pro Forma: 2650
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,650
  • Unit Type Total Rent: $2,650
  • Unit Type Pro Forma: 2650
  • Unit Type Type: 5
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1

Property History for 206 Chicago Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 206 Chicago Avenue

Taxable ValueLand$1,992,093Additions$98,907Total$2,091,000
Tax Record2023$24,296 ($2,025 / month)
Home Facts
Total Finished SqFt1,426 SqFtAbove Grade Finished SqFt1,426 SqFtStories2Lot Size6,340 SqFtStyleMulti-Family Res (5+ Units)Year Built1956CountyORANGEAPN024-203-20

Schools near 206 Chicago Avenue

This home is within Huntington Beach City Elementary School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - K to 8
Rating
School
Distance
Agnes L. Smith Elementary School
PublicK to 5

Ethel Dwyer Middle School
Public6 to 8

Huntington Beach High School
Public9 to 12

Kinetic Academy
CharterK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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206 Chicago Avenue is a multi-family home for sale in Huntington Beach, CA 92648. This property was listed for sale on March 14, 2024 by The L3, it's currently listed at $3,250,000. It has been on the market for a total of 47 days and was last sold on May 3, 2022. This listing's school districts are Huntington Beach City Elementary School District, Huntington Beach Union High School District. Nearby schools include Agnes L. Smith Elementary School, Ethel Dwyer Middle School and Huntington Beach High School. 206 Chicago Avenue is a 5-bed, 5-bath, 2,400 sqft multi-family home built in 1956.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of The L3, Matthew Kanoudi, DRE #01419924

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.