218 Chicago Ave, Huntington Beach, CA 92648

Property Description

Rare Investment Opportunity at the Beach! First time on the market in 40 years, this Mid-Century 8 Unit Multi-Family Building on a Buildable 50' X 127' Double Lot is in the desirable resort area of Downtown Huntington Beach. Prime coastal location just 2 blocks to the new 31-acre Pacific City development and Main Street shops & restaurants, 5 blocks to the Beach & Pier! Situated in the midst of new custom homes and vintage beach cottages. This two story building consists of (8) One Bedroom, One Bath units and a community Laundry Room. Each 1 Bedroom unit has a Living Room, Kitchen with Eating Area, stove and included refrigerator and full Bath. One unit has a balcony deck. All units have access to a large courtyard with tropical landscaping. Onsite parking for 6 cars plus street parking. Built in 1958 as a legal 8 unit building w/separate gas and electric meters for each unit. Strong rental market! No oil well history on the property. Once in a lifetime opportunity to own 8 legally permitted units in this currently zoned single family area. Current rents reflect long term family ownership and management. There is tremendous upside potential for a new investor to capitalize on the uniqueness of the property & current growth in the immediate area!