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Price Reduced Listing
$2,775,000
 $14,897 est/mo Sourced by Back At You

1940 Chestnut Avenue,Long Beach, CA 90806

Long Beach, CA 90806

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Description

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 County's most durable rental submarkets. The property features a (10) 2+1 / (2) Studio / (2) 3+2 unit mix averaging 723 SF with separately metered electric - a cost-efficiency advantage in this dense urban environment. Twelve units are currently occupied and eleven of twelve occupied units are below market, with 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 $2,775,000 ($198,214/unit | $294.06/SF) with an 8.13% current cap rate, the real story is what's underneath - an 8.74% pro forma cap and $16,905 in incremental annual NOI as rents mark to market through straightforward execution with no renovation required.

Details

MLS #26901565
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1946
Days On Site76
Listing Provided ByLyon Stahl Investment Real Estate, Inc. | Taylor Avakian

Features

Bed(s)14
Bath(s)14
SQ Feet9,437
Units14
Building(s)1
ZoningLBR2N
Acreage0.19

Interior

CoolingNone
HeatingNone
Heating Yes / NoNo
Cooling Yes / NoNo

Parking

Parking FeaturesDriveway

Area Information

StateCA
CountyLos Angeles
CityLong Beach
Zip Code90806
Area5 Wrigley Area
Listing VS Median (in 90806)
Price:
$2,775,000
low | high
Med:
$850,000
100% of Average
sqft:
9,437
low | high
Med:
1,444
100% of Average
$ / sqft:
$294
low | high
Med:
$589
50.180928851289% of Average
On site:
76
low | high
Med:
95
80% of Average
Sourced by Back At You

Market Activity 90806

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Learn More About This Property

Roy Rigsby

Roy Rigsby

Desert Lifestyle Properties

01399810 (760) 409-5117roy@desertrealestate4you.com
StateCA
CountyLos Angeles
CityLong Beach
Zip Code90806
Area5 Wrigley Area
Listing VS Median (in 90806)
Price:
$2,775,000
low | high
Med:
$850,000
100% of Average
sqft:
9,437
low | high
Med:
1,444
100% of Average
$ / sqft:
$294
low | high
Med:
$589
50.180928851289% of Average
On site:
76
low | high
Med:
95
80% of Average
Sourced by Back At You
Nearby Listings (Within 1/4 mile)
Price: $2.081M - $3.468M
sqft: 7,000 - 11,500
Nearby Listings Property ImageNearby Listings Details
2059 Cedar Avenue Property Photo 1
$2,525,000
2059 Cedar Avenue
Long Beach, CA 90806
Listing Updated: November 5, 2026 at 2:22:48 PM PST