1825 Chestnut Avenue

Long Beach, CA 90806

$3,200,000
Price
3
Beds
12
Baths
8,536 Sq. Ft.
$375 / Sq. Ft.
8,536
Sq. Ft.
$375
per Sq. Ft.

Description

We are pleased to present 1825 Chestnut Ave, a 12-unit multifamily in Long Beach, CA. The property is located just off the corner of Chestnut Ave and Pacific Coast Hwy, just 2-miles away from the Port of Long Beach and Long Beach’s Shoreline Village. The property consists of eight, 1-Bedroom/1-Bathroom and four, 2-Bedroom/1-Bathroom units. The building offers over 8,500 SF of rentable living space with on-site parking via uncovered spaces and several garages. The property benefits from it’s location...We are pleased to present 1825 Chestnut Ave, a 12-unit multifamily in Long Beach, CA. The property is located just off the corner of Chestnut Ave and Pacific Coast Hwy, just 2-miles away from the Port of Long Beach and Long Beach’s Shoreline Village. The property consists of eight, 1-Bedroom/1-Bathroom and four, 2-Bedroom/1-Bathroom units. The building offers over 8,500 SF of rentable living space with on-site parking via uncovered spaces and several garages. The property benefits from it’s location by being within close proximity to several frequently travelled destinations like the Port of Long Beach, Shoreline Village, Long Beach Poly High School, Long Beach Medical Center, Costco, Home Depot, Northgate Market, and more.
  1. Listed by ERIC CHEN • DRE #01489184 • Brokerage DRE #00409987 • CB RICHARD ELLIS • 626-757-5717
  2. Listed by Trey Mitchell • DRE #02060609 • Brokerage DRE #00409987 • CB Richard Ellis, Inc.

Property Details for 1825 Chestnut Avenue

Parking Spaces Total
8
Private Pool
No
Total Units
12.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
8536
Assessor Parcel Number
7209-028-020
Property Attached YN
true
LISTING UPDATED: 10/14/2024 04:38 AM

Property Details for 1825 Chestnut Avenue

StatusActive
MLS #CV24203235
Days on Market47
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1959
CountyLos Angeles County

Building Information for 1825 Chestnut Avenue

Building/Complex1825 Chestnut AveFloor-Stories2Residences-Pet Policy-Year Built1959Building Size-

Property Information for 1825 Chestnut Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $267,288
  • Gross Scheduled Income: $267,288
  • Vacancy Allowance: 8019
  • Gross Operating Income: $259,269
  • Net Operating Income: $175,675
  • Gross Multiplier: 12.08
  • Cap Rate: 5.49
Expense Details
  • Operating Expense: $83,594
  • New Taxes Expense: $41,999
  • Gardener Expense: $1,428
  • Insurance Expense: $9,000
  • Maintenance Expense: $9,000
  • Professional Management Expense: $12,963
  • Other Expense: $3,000
  • Other Expense Description: Reserves
  • Trash Expense: $3,102
  • Water Sewer Expense: $3,102
  • Total Expenses: $83,594
Tax / Assessment Info
  • Tax Block: B
  • Tax Tract Number: 573004
  • Tax Census Tract: 5730.04
  • CFD/Mello-Roos Fee: $2,182
  • Tax Lot: 18
Community / Development
Community / Development
  • Community Features: Curbs, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: No
  • Laundry Features: None
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: 11-15 Units/Acre
  • Number Of Units: 12
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 8
  • Uncovered Spaces: 0
  • Open Other Spaces Total: 0
  • Parking Garage Spaces: 8
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Wrigley Area
  • Builders Tract Code: Wrigley Area (WR)
Unit Information
Unit 1
  • Unit Type Units Total: 8
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,612
  • Unit Type Total Rent: $154,752
  • Unit Type Pro Forma: 1950
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,295
  • Unit Type Total Rent: $110,136
  • Unit Type Pro Forma: 2450
  • Unit Type Type: 2
Unit Information
  • Number Of Units Leased: 11
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Separate Water Meters: 1

Property History for 1825 Chestnut 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 1825 Chestnut Avenue

Taxable ValueLand$656,186Additions$2,023,243Total$2,679,429
Tax Record2024$35,477 ($2,956 / month)
Home Facts
Total Finished SqFt8,536 SqFtAbove Grade Finished SqFt8,536 SqFtLot Size7,500 SqFtStyleMulti-Family Res (5+ Units)Year Built1959ZoningLBR2NCountyLOS ANGELESAPN7209-028-020

Schools near 1825 Chestnut Avenue

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Lafayette Elementary School
PublicK to 5

Washington Middle School
Public6 to 8

Cabrillo High School
Public9 to 12

Educational Partnership High School
Public9 to 12

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.

Similar Homes

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1825 Chestnut Avenue is a multi-family home for sale in Long Beach, CA 90806. This property was listed for sale on October 1, 2024 by CB RICHARD ELLIS, it's currently listed at $3,200,000. It has been on the market for a total of 47 days and was last sold on July 20, 2018. This listing's school district is Long Beach Unified School District. Nearby schools include Lafayette Elementary School, Washington Middle School and Cabrillo High School. 1825 Chestnut Avenue is a 3-bed, 12-bath, 8,536 sqft multi-family home built in 1959.

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. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of CB RICHARD ELLIS, ERIC CHEN, DRE #01489184; CB Richard Ellis, Inc., Trey Mitchell, DRE #02060609

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.