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1871 Chestnut Ave, Long Beach, CA 90806
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1871 Chestnut Ave Long Beach, CA 90806

$2,025,000 Sold Price as of 08/12/2019
  • 12 Beds
  • 10 Baths
  • 6,660 Sq.Ft.
Sold
$2,025,000 Sold Price as of 08/12/2019 Refinance Your Mortgage
Map preview of 1871 Chestnut Ave, Long Beach, CA 90806

Property Overview: 1871 Chestnut Ave Long Beach, CA has 12 bedrooms, 10 bathrooms, 6,660 living square feet and 7,472 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 1871 Chestnut Avenue is a value-add property with +/-17% rental upside potential. The building features spacious floor plans with natural light, six garages for extra income and on-site laundry facilities. The building has a desirable unit mix of 8 one bedroom, one bath units and 2 two bedroom, one bath units. This area is beginning to benefit from the large amount of capital flooding into Long Beach. As renters move inland from Downtown Long Beach and beach areas, renter demographics are changing in the surrounding areas. There are exciting new developments taking place within just a few blocks of the subject property.

Listed by Robert Stepp | BRE #01456379 | Keller Williams Pacific Estate
Last checked: 8 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 53

Home details

Lot Sq. Ft
7,472
HOA Dues
$0/mo
Year built
1964
Garage
6 Car
Property Type:
Multi Family
Status
Sold
MLS#
PW19129351
City
Long Beach
County
Los Angeles
Time on Site
1521 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 10
  • Total # of Buildings: 1
  • # of Electric Meters: 10
  • # of Gas Meters: 10
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 8
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,271
  • Total Rent: $10,168
  • Pro Forma/Market Rent: $1,425
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,268
  • Total Rent: $2,536
  • Pro Forma/Market Rent: $1,750
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $153,624
  • Net Operating Income: $96,097
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $49,846
  • Electric: $1,625
  • Gas/Fuel: $1,625
  • Licenses: $500
  • New Taxes: $26,285
  • Trash: $1,625
  • Gardener: $600
  • Insurance: $2,664
  • Maintenance: $3,750
  • Professional Management: $7,297
  • Water/Sewer: $1,625
  • Other Expenses: $1,750
  • Other Expense Description: Reserves

Property Details for 1871 Chestnut Ave

Interior Features
Laundry Information
  • Has Laundry
  • Common Area
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 6
  • # of Parking Spaces: 6
  • Has Parking
  • Parking Features: Garage
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 10
  • Parcel Number: 7209028009
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Wrigley Area (WR)
  • Directions: Pacific Ave & Pacific Coast Highway
Neighborhood Information
  • Community Features: Curbs, Urban
View more facts & features

Local Long Beach Agent

Sale History for 1871 Chestnut Ave

Last sold on August 27th, 2020

  • August, 2020

  • Aug 27, 2020

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • August, 2019

  • Aug 15, 2019

    Date

    Sold

    CRMLS: PW19129351

    $2,025,000

    Price

  • Jul 26, 2019

    Date

    Pending

    CRMLS: PW19129351

    $2,050,000

    Price

  • Jun 3, 2019

    Date

    Active

    CRMLS: PW19129351

    $2,050,000

    Price

  • August, 2019

  • Aug 12, 2019

    Date

    Sold (Public Records)

    Public Records

    $2,025,000

    Price

Show More

Tax History for 1871 Chestnut Ave

Assessed Value (2020): $2,026,760
Year Land Value Improved Value Assessed Value
2020 $1,000,000 $1,026,760 $2,026,760

Home Value Compared to the Market

This property vs the competition

1871 Chestnut Ave sold on August 12, 2019 for 150.31% 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 $307.81 per/sqft which puts the price per square foot 50.99% lower than the current median sale per square foot for the city of Long Beach.

About 1871 Chestnut Ave

Detailed summary of property

1871 Chestnut Ave is a multi family that recently sold in Long Beach, CA 90806. This multi family property offered 12 bedrooms, 10 bathrooms, roughly 6,660 living square feet, and sits on an approximately 7,472 square foot lot. 1871 Chestnut Ave was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $2,025,000. 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 150.31% higher than the current median priced home. Local homes that are currently for sale include 1616 E 4th St, 1512 N Stanton Pl and 441 Dawson Ave. While the average home in Long Beach, CA is selling in 62 days, 1871 Chestnut Ave has a days on market of 53 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 1871 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 1871 Chestnut Ave

Public county record property details
Beds
17
Baths
10
Year built
1964
Sq. Ft.
6,660
Lot Size
7,499
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
6
APN
7209-028-009

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
20
Median Sale to List Price %
100%
Avg Days on Market
36
Loan Type
Conventional (100%), FHA (0%), VA (0%), Cash (0%), Other (0%)

Thinking of Selling?

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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.

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