1885 Chestnut Avenue

Long Beach, CA 90806

$1,899,000
Price
17
Beds
8
Baths
6,523 Sq. Ft.
$291 / Sq. Ft.
6,523
Sq. Ft.
$291
per Sq. Ft.

Description

Amazing prime investment opportunity at 1885 Chestnut Ave, located in an OPPORTUNITY ZONE. Well-maintained in a high demand rental area. This 7-unit plus 1 non-conforming remodeled unit complex has excellent unit mixes of (2) 3 bedrooms/1 bathroom, (5) 2 bedrooms/1 bathroom, and (1) 1 bedroom/1 bathroom. Four (4) units have been tastefully remodeled to go along with a brand NEW roof and brand new water heater. Has great potential rental upside, while Cap Rate on current rents is at 7.60% and 8.8...Amazing prime investment opportunity at 1885 Chestnut Ave, located in an OPPORTUNITY ZONE. Well-maintained in a high demand rental area. This 7-unit plus 1 non-conforming remodeled unit complex has excellent unit mixes of (2) 3 bedrooms/1 bathroom, (5) 2 bedrooms/1 bathroom, and (1) 1 bedroom/1 bathroom. Four (4) units have been tastefully remodeled to go along with a brand NEW roof and brand new water heater. Has great potential rental upside, while Cap Rate on current rents is at 7.60% and 8.8 GRM. There’s 4 individual garages, laundry room, & spacious courtyard.

Listing Agent

  1. Branden Chhuor

    Branden Chhuor

    Listing Agent

    Compass

    DRE #01948722

    branden.c@compass.com

    P: (562)-547-0698

Property Details for 1885 Chestnut Avenue

View
None
Parking Spaces Total
4
Private Pool
No
Cooling Type
N/K
Total Units
8.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
6523
LISTING UPDATED: 02/18/2025 04:12 AM

Property Details for 1885 Chestnut Avenue

StatusActive
MLS #PW25018988
Days on Market32
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1944
CountyLos Angeles County

Building Information for 1885 Chestnut Avenue

Building/Complex1885 Chestnut AveFloor-Stories2Residences-Pet Policy-Pet Policy Details-Year Built1944Building Size-

Property Information for 1885 Chestnut Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity
Income / Expense / Tax Details
Income Details
  • Gross Income: $0
  • Gross Scheduled Income: $195,000
  • Vacancy Allowance: 5900
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $189,100
  • Net Operating Income: $124,690
  • Number Of Rented Garages: 4
  • Laundry Income: $2,000
  • Gross Multiplier: 10.0
  • Cap Rate: 6.4
Expense Details
  • Operating Expense: $64,700
  • New Taxes Expense: $23,400
  • Gardener Expense: $1,200
  • Fuel Expense: $0
  • Electric Expense: $1,100
  • Insurance Expense: $14,000
  • Professional Management Expense: $9,000
  • Other Expense: $5,000
  • Other Expense Description: Repairs
  • Trash Expense: $1,000
  • Water Sewer Expense: $10,000
  • Total Expenses: $64,700
Tax / Assessment Info
  • Tax Block: B
  • Tax Tract Number: .
  • Tax Census Tract: 5730.04
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 4
Community / Development
Community / Development
  • Accessibility Features: None
  • Disability Access: None
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Appliances: Gas Range
  • Equipment: Laundry Area
  • Interior Features: 2 Staircases
  • Room Type: All Bedrooms Down, All Bedrooms Up, Kitchen
  • Bedroom Features: All Bedrooms Down, All Bedrooms Up
  • Laundry: Yes
  • Laundry Features: Common Area
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: None
  • Heating Type: Central
  • Heating: Central
  • Flooring: Laminate, Vinyl
Exterior Features
  • Roof: Shingle
  • Entry Location: East
  • Fence: Yes
  • Fence: Wrought Iron
  • Fencing: Wrought Iron
  • View Description: None
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Number Of Units: 8
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Sewer Available, Sewer Connected, Water Available, Water Connected
  • Electric: Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Sewer Available, Sewer Connected, Water Available, Water Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Parking: Yes
  • Parking Garage: Assigned
  • Parking Garage Spaces: 4
  • Carport Spaces: 0
  • Parking Features: Assigned
Property / Structure Info
  • Builders Tract Name: Wrigley Area
  • Builders Tract Code: Wrigley Area (WR)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,056
  • Unit Type Total Rent: $2,056
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,892
  • Unit Type Total Rent: $1,892
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,375
  • Unit Type Total Rent: $2,375
  • Unit Type Pro Forma: 2700
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,921
  • Unit Type Total Rent: $1,921
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,037
  • Unit Type Total Rent: $2,037
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,176
  • Unit Type Total Rent: $2,176
  • Unit Type Pro Forma: 2700
  • Unit Type Type: 6
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 7
Unit 8
  • 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: $1,513
  • Unit Type Total Rent: $1,513
  • Unit Type Pro Forma: 1600
  • Unit Type Type: 8
Unit Information
  • Number Of Units Leased: 7
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 7

Property History for 1885 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 1885 Chestnut Avenue

Taxable ValueLand$210,139Additions$416,971Total$627,110
Tax Record2024$9,330 ($778 / month)
Home Facts
Total Finished SqFt6,523 SqFtAbove Grade Finished SqFt6,523 SqFtLot Size7,500 SqFtStyleMulti-Family Res (5+ Units)Year Built1944ZoningLBR2NCountyLOS ANGELESAPN7209-028-007

Schools near 1885 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

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

1885 Chestnut Avenue is a multi-family home for sale in Long Beach, CA 90806. This property was listed for sale on January 23, 2025 by Compass, it's currently listed at $1,899,000. It has been on the market for a total of 32 days and was last sold on October 31, 2002. This listing's school district is Long Beach Unified School District. Nearby schools include Lafayette Elementary School, Washington Middle School and Cabrillo High School. 1885 Chestnut Avenue is a 17-bed, 8-bath, 6,523 sqft multi-family home built in 1944.

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 Compass, Branden Chhuor, DRE #01948722

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.