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1851 chestnut Ave Long Beach, CA 90806

$1,707,000 Sold Price as of 08/15/2019

13 Beds
8 Baths
6,364 Sq.Ft.

Sold

$1,707,000 Sold Price as of 08/15/2019 Refinance Your Mortgage

Map preview of 1851 chestnut Ave, Long Beach, CA 90806

Property Overview: 1851 chestnut Ave Long Beach, CA has 13 bedrooms, 8 bathrooms, 6,364 living square feet and 7,448 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Newer property in good rental area with copper water pipes, roof above front 4 units 4 years old and roof of rear 4 units inspected and repaired at that time.A low maintenance exterior with no need for a gardener. 10 garages. Laundry for extra income. Long time tenants with low rents but a 2 bedroom unit has just rented @ $1,450. All tenants are month to month rentals and can be increased with a 60 day notice. Seller may do 1031 exchange at no cost to buyer. Seller may carry with 15% down.

Listed by Anthony Di Virgilio | BRE #00614525 | Divirgilio, Anthony

Last checked: 1 minute ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 83

Home details

Lot Sq. Ft: 7,448
HOA Dues: $0/mo
Year built: 1969
Garage: 10 Car
Property Type:: Multi Family

Status: Sold
MLS#: OC19096121
City: Long Beach
County: Los Angeles
Time on Site: 1521 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 8
Total # of Buildings: 1
# of Electric Meters: 9
# of Gas Meters: 0
# of Water Meters: 1

Unit Breakdown 1

# of Units: 2
# of Beds: 2
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,200
Total Rent: $2,400
Pro Forma/Market Rent: $2,900

Unit Breakdown 2

# of Units: 1
# of Beds: 2
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,450
Total Rent: $1,450
Pro Forma/Market Rent: $1,450

Unit Breakdown 3

# of Units: 1
# of Beds: 2
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,250
Total Rent: $1,250
Pro Forma/Market Rent: $1,450

Unit Breakdown 4

# of Units: 1
# of Beds: 2
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,400
Total Rent: $1,400
Pro Forma/Market Rent: $1,450

Unit Breakdown 5

# of Units: 2
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,075
Total Rent: $2,150
Pro Forma/Market Rent: $2,250

Unit Breakdown 6

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $925
Total Rent: $925
Pro Forma/Market Rent: $1,125

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 14.9
Gross Scheduled Income: $117,600
Net Operating Income: $93,500
Gross Operating Income: --
# of Rented Garages: 1
Garage Rental Rate: $125
Garage Rental Income: $1,500
Laundry Income: $1,200
Laundry Own/Lease: Lease

Annual Expense Breakdown

Total Operating Expense: $24,100
Electric: $900
Gas/Fuel: $0
New Taxes: $22,000
Trash: $2,400
Insurance: $1,700
Professional Management: $0
Water/Sewer: $2,100

Property Details for 1851 chestnut Ave

Interior Features

Laundry Information

Has Laundry
Community

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

# of Garage Spaces: 10
# of Parking Spaces: 10

Lot Information

Lot Features: 0-1 Unit/Acre

Property Information

Common Walls: 2+ Common Walls
Total # of Units: 8
Parcel Number: 7209028015
Year Built Source: Public Records
Property is Attached

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Public Sewer, Sewer Paid
Water Source: Public

Location / Neighborhood

Location Information

Directions: PCH to chestnut, go north, west side of street

Neighborhood Information

Community Features: Curbs

View more facts & features

Local Long Beach Agent

Sale History for 1851 chestnut Ave

Last sold for $1,707,000 on August 15th, 2019

August, 2019
Aug 17, 2019

Date

Sold

CRMLS: OC19096121

$1,707,000

Price
Aug 11, 2019

Date

Pending

CRMLS: OC19096121

$1,750,000

Price
Jul 26, 2019

Date

Active Under Contract

CRMLS: OC19096121

$1,750,000

Price
Jul 11, 2019

Date

Price Change

CRMLS: OC19096121

$1,750,000

Price
Jun 3, 2019

Date

Price Change

CRMLS: OC19096121

$1,700,000

Price
May 2, 2019

Date

Price Change

CRMLS: OC19096121

$1,750,000

Price
Apr 27, 2019

Date

Active

CRMLS: OC19096121

$1,725,000

Price
August, 2019
Aug 15, 2019

Date

Sold (Public Records)

Public Records

$1,707,000

Price
July, 2014
Jul 28, 2014

Date

Sold (Public Records)

Public Records

$1,125,000

Price

Tax History for 1851 chestnut Ave

Assessed Value (2020): $1,707,000

Year	Land Value	Improved Value	Assessed Value
2020	$1,000,000	$707,000	$1,707,000

Home Value Compared to the Market

This property vs the competition

1851 chestnut Ave sold on August 15, 2019 for 113.68% higher than the current median sold price for the city of Long Beach which is $819,000. The median sold price per/sqft for Long Beach is $628 and this home is sold at $274.98 per/sqft which puts the price per square foot 56.21% lower than the current median sale per square foot for the city of Long Beach.

About 1851 chestnut Ave

Detailed summary of property

1851 chestnut Ave is a multi family that recently sold in Long Beach, CA 90806. This multi family property offered 13 bedrooms, 8 bathrooms, roughly 6,364 living square feet, and sits on an approximately 7,448 square foot lot. 1851 chestnut Ave was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $1,707,000. Home in Long Beach are selling for a median price of $819,000 and a median price per square foot of $628. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 113.68% higher than the current median priced home. Local homes that are currently for sale include 1616 E 4th St, 436 Gaviota Ave and 1120 Stanley Ave. While the average home in Long Beach, CA is selling in 62 days, 1851 chestnut Ave has a days on market of 83 days. There are currently 778 homes for sale in the Long Beach real estate market and 416 of them are single family homes while 337 of them are condos and 23 are townhomes. For more information on this home for sale at 1851 chestnut Ave Long Beach, CA 90806 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1851 chestnut Ave

Public county record property details

Beds: 13
Baths: 8
Year built: 1969
Sq. Ft.: 6,364
Lot Size: 7,499
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 12
APN: 7209-028-015

The source for these homes facts are from public records.

90806 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$749,900

Median List Price/Sq.Ft.

$531

Median Sold Price

$920,000

Median Sold Price/Sq.Ft.

$534

Total Inventory

Median Sale to List Price %

100%

Avg Days on Market

Loan Type

Conventional (100%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.