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2367 Chestnut Ave Long Beach, CA 90806

$1,430,000 Sold Price as of 09/20/2019

9 Beds
8 Baths
4,447 Sq.Ft.

Sold

$1,430,000 Sold Price as of 09/20/2019 Refinance Your Mortgage

Map preview of 2367 Chestnut Ave, Long Beach, CA 90806

Property Overview: 2367 Chestnut Ave Long Beach, CA has 9 bedrooms, 8 bathrooms, 4,447 living square feet and 6,501 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 2367 Chestnut Avenue is a four-unit asset located on a quiet, residential street in South Wrigley, Long Beach. With (1) 3 bedroom/2 bath unit and (3) 2 bedroom/2 bath units, the property presents an ideal owner-occupied opportunity. All units are fully renovated with high-end finishes, including wood flooring, recessed lighting and modern kitchens and baths. The building features low-maintenance, drought-tolerant artificial turf in the front yard, newly-painted exteriors with brand new gutters installed, all new copper plumbing throughout, on-site laundry and five private garages. This property provides a low-effort, solid cash flow investment opportunity in a popular residential Long Beach submarket. The South Wrigley 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. Exciting new developments are taking place within just a few blocks of the subject property

Listed by Robert Stepp | BRE #01456379 | Keller Williams Pacific Estate
Co-listed by Mark Witsken | BRE #01884724 | Keller Williams-Santa Monica

Last checked: 10 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 88

Home details

Lot Sq. Ft: 6,501
HOA Dues: $0/mo
Year built: 1969
Garage: 5 Car
Property Type:: Multi Family

Status: Sold
MLS#: PW19147306
City: Long Beach
County: Los Angeles
Time on Site: 1521 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 4
Total # of Buildings: 1
# of Electric Meters: 4
# of Gas Meters: 4
# of Water Meters: 1

Unit Breakdown 1

# of Units: 3
# of Beds: 2
# of Baths: 2
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,900
Total Rent: $5,700
Pro Forma/Market Rent: $1,900

Unit Breakdown 2

# of Units: 1
# of Beds: 3
# of Baths: 2
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,750
Total Rent: $2,750
Pro Forma/Market Rent: $2,750

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: --
Gross Scheduled Income: $101,400
Net Operating Income: $65,297
Gross Operating Income: --

Annual Expense Breakdown

Total Operating Expense: $31,603
Electric: $687
Gas/Fuel: $687
Licenses: $500
New Taxes: $18,431
Trash: $687
Gardener: $600
Insurance: $1,779
Maintenance: $1,500
Professional Management: $4,845
Water/Sewer: $687
Other Expenses: $700
Other Expense Description: Reserves

Property Details for 2367 Chestnut Ave

Interior Features

Laundry Information

Has Laundry
Common Area

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

# of Garage Spaces: 5
# of Parking Spaces: 5
Has Parking
Parking Features: Garage - Single Door

Lot Information

Lot Features: 2-5 Units/Acre
Lot Size Source: Assessor

Property Information

Common Walls: 2+ Common Walls
Total # of Units: 4
Parcel Number: 7205014018
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: Other (OTHR)
Other Subdivision Name: South Wrigley
Directions: W Willow St & Pacific Ave

Neighborhood Information

Community Features: Curbs

View more facts & features

Local Long Beach Agent

Sale History for 2367 Chestnut Ave

Last sold for $1,430,000 on September 24th, 2019

September, 2019
Sep 25, 2019

Date

Sold

CRMLS: PW19147306

$1,430,000

Price
Sep 17, 2019

Date

Pending

CRMLS: PW19147306

$1,465,000

Price
Jul 26, 2019

Date

Price Change

CRMLS: PW19147306

$1,465,000

Price
Jun 22, 2019

Date

Active

CRMLS: PW19147306

$1,500,000

Price
September, 2019
Sep 24, 2019

Date

Sold (Public Records)

Public Records

$1,430,000

Price
August, 2019
Aug 8, 2019

Date

Sold (Public Records)

Public Records

--

Price
December, 2017
Dec 11, 2017

Date

Sold

CRMLS: PW17245049

$1,065,000

Price
Nov 4, 2017

Date

Pending

CRMLS: PW17245049

$1,049,000

Price
Oct 27, 2017

Date

Active

CRMLS: PW17245049

$1,049,000

Price
Listing provided courtesy of CRMLS

Prime investment opportunity in the heart of Wrigley area in Long Beach! Newer construction, built in 1969 this statewide 4-plex has tons of upside! Long term owner and low rents. Unit mix consists of front house 3 bedroom/ 2 bath and 3 units behind all 2 bed/1.25 bath. This property is electric only. Tenants pays their own utilities. Onsite laundry room can bring in additional income. 5 garages onsite plus street parking. Long Beach has NO rent control! Hurry units in Wrigley barely come on the market. This property will not last long!

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October, 2007
Oct 31, 2007

Date

Sold

CRMLS: P595162

$794,900

Price
Aug 16, 2007

Date

Active

CRMLS: P595162

$779,900

Price
Listing provided courtesy of CRMLS

This beautiful Income Property offers 4 Units a front house with 3 Bedroom 2 bath entry way to cozy living room w/a brick fireplace, spacious kitchen with formal dinning room,huge master bedroom w/bath and walk in closet, bedrooms w/closet mirror doors.One Unit in back & 2 upstairs all 2 bedrooms 1 1/2 bath with mirror closets, tile floor in kitchen & bath.They all have built in stove & AC, individual laundry rm,5 Car Garage.Owner lives in front unit and daughters in back thats why rent is low

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Tax History for 2367 Chestnut Ave

Assessed Value (2020): $1,430,600

Year	Land Value	Improved Value	Assessed Value
2020	$800,000	$630,600	$1,430,600

Home Value Compared to the Market

This property vs the competition

2367 Chestnut Ave sold on September 20, 2019 for 78.88% 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 $329.44 per/sqft which puts the price per square foot 47.54% lower than the current median sale per square foot for the city of Long Beach.

About 2367 Chestnut Ave

Detailed summary of property

2367 Chestnut Ave is a multi family that recently sold in Long Beach, CA 90806. This multi family property offered 9 bedrooms, 8 bathrooms, roughly 4,447 living square feet, and sits on an approximately 6,501 square foot lot. 2367 Chestnut Ave was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $1,430,000. 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 78.88% higher than the current median priced home. Local homes that are currently for sale include 1132 E Arcadia Court, 801 Atlantic Ave and 1000 E 10th St. While the average home in Long Beach, CA is selling in 62 days, 2367 Chestnut Ave has a days on market of 88 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 2367 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 2367 Chestnut Ave

Public county record property details

Beds: 8
Baths: 7
Year built: 1969
Sq. Ft.: 4,447
Lot Size: 6,501
Stories: --

Type: Quadruplex (4 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 16
APN: 7205-014-018

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.