$ 3,125,000
-
$3,125,000
Price -
5
Bed -
4
Bath -
9,437
SqFt -
0.19
Acre
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About the Listing CLW-X82195 - CLW-C138326
1940 Chestnut Ave | 14-Unit Stabilized Multifamily in Long Beach. 1946-built asset totaling 9,437 SF on an 8,152 SF lot in an established residential corridor one block from major employment and transit corridors in one of Los Angeles' most durable rental submarkets. The property features a (10) 2+1 / (2) Studio / (2) 3+2 unit mix averaging 674 SF with separate utility metering - a cost-efficiency advantage in this dense urban environment. Twelve units are currently occupied and every occupied unit is below market, with in-place rents averaging $1,899.64/month against market rents of $2,003.57, and two units positioned to lease at market rate with zero capital expenditure. Offered at $3,125,000 ($223,214/unit | $331.14/SF) with a 7.08% in-place cap rate, the real story is what's underneath - a 7.62% pro forma cap and $16,904 in incremental annual NOI as two market-ready vacant units lease through straightforward execution with no renovation required.
Listing Highlights for 1940 Chestnut Ave
Interior Details
- Bedrooms: 5
- Bathrooms: 4 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 14
- Lot Dimensions: 50x163
- Zoning: LBR2N
- Roof:
- Others: 2+ Total Units
- Sewer:
- Parking Features: Driveway
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7209026017
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
1940 Chestnut Ave Long Beach, CA 90806
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