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811 Chestnut Ave, Long Beach, CA 90813
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811 Chestnut Ave Long Beach, CA 90813

$1,000,000 Sold Price as of 09/30/2022
  • 4 Beds
  • 4 Baths
  • 2,568 Sq.Ft.
Sold
$1,000,000 Sold Price as of 09/30/2022 Refinance Your Mortgage
Map preview of 811 Chestnut Ave, Long Beach, CA 90813

Property Overview: 811 Chestnut Ave Long Beach, CA has 4 bedrooms, 4 bathrooms, 2,568 living square feet and 2,508 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Completely tenant-ready! Located just outside of booming Downtown Long Beach, 811 Chestnut Ave is a well-maintained 4-plex with (4) tenant-ready 1Bed+1Bath units. Once the vacancies are rented out for market, the property will gross $6,700/month and operate at a 5.29% CAP and 13.50 GRM. 811 Chestnut Ave is the ideal investment for any owner/user looking to live in a unit and have their neighbors pay their mortgage! 811 Chestnut Ave is comprised of (4) 1Bed+1Bath units, approximately 650 SF each. (1) Unit has been completely renovated, featuring new flooring, appliances, fixtures and windows. The subject property is located just outside the $6 Billion of development flooding into Downtown LB, including the Long Beach Civic Center, Long Beach Aquarium, OceanAire Project, CSULB Project, CSULB Downtown Village, Broadway Block, The Pacific and Queen Mary Island.

Listed by Cameron Samimi | BRE #02035763 | Lyon Stahl Investment Real Estate, Inc.
Co-listed by Evelyn Baez Gonzalez | BRE #02103055 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 12 minutes ago | Last updated: September 30th, 2022 | Source CRMLS | DOM: 62

Home details

Lot Sq. Ft
2,508
HOA Dues
$0/mo
Year built
1923
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
SB22097448
City
Long Beach
County
Los Angeles
Time on Site
741 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: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,675
  • Total Rent: $16,750
  • Pro Forma/Market Rent: $1,675
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,675
  • Total Rent: $1,675
  • Pro Forma/Market Rent: $1,675
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,675
  • Total Rent: $1,675
  • Pro Forma/Market Rent: $1,675
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,675
  • Total Rent: $1,675
  • Pro Forma/Market Rent: $1,675
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.29%
  • Gross Rent Multiplier: 13.5
  • Gross Scheduled Income: $80,400
  • Net Operating Income: $57,432
  • Gross Operating Income: $77,988
Annual Expense Breakdown
  • Total Operating Expense: $20,556
  • Electric: $0
  • Gas/Fuel: $0
  • Trash: $0
  • Insurance: $0
  • Water/Sewer: $0

Property Details for 811 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
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 4
  • Parcel Number: 7272015028
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Off Magnolia Ave and 7th St
Neighborhood Information
  • Community Features: Curbs, Urban
View more facts & features

Local Long Beach Agent

Sale History for 811 Chestnut Ave

Last sold for $1,000,000 on September 30th, 2022

  • September, 2022

  • Sep 30, 2022

    Date

    Sold

    CRMLS: SB22097448

    $1,000,000

    Price

  • May 24, 2022

    Date

    Active

    CRMLS: SB22097448

    $1,100,000

    Price

  • March, 2020

  • Mar 6, 2020

    Date

    Sold

    CRMLS: PW20009535

    $875,000

    Price

  • Feb 14, 2020

    Date

    Pending

    CRMLS: PW20009535

    $875,000

    Price

  • Jan 29, 2020

    Date

    Active Under Contract

    CRMLS: PW20009535

    $875,000

    Price

  • Jan 14, 2020

    Date

    Active

    CRMLS: PW20009535

    $875,000

    Price

  • Listing provided courtesy of CRMLS

    Terrific Investment Property Opportunity! Spacious 1 bedroom units with many repairs and updates to the property within the last 2 years. Including some new windows, new gas line to building, some new appliances, paint and flooring. One of the units is used as a 2 bedroom. Great location, close to the beach, restaurants and shopping.

  • March, 2020

  • Mar 5, 2020

    Date

    Sold (Public Records)

    Public Records

    $875,000

    Price

  • March, 2017

  • Mar 8, 2017

    Date

    Sold (Public Records)

    Public Records

    $668,000

    Price

  • April, 2015

  • Apr 8, 2015

    Date

    Price Change

    CRMLS: PW15073478

    $630,000

    Price

  • Listing provided courtesy of CRMLS

    Nice and clean property! Includes back yard and is separately metered. Great for new investor or owner occupied with income to help with the mortgage. Newer roof, just about a year old. The windows, door and front of the building have had a fresh face lift with new paint. Extensive work as been done to this building which includes updated plumbing and electrical. Newer water heater, interior doors, porcelain tile, sinks, toilets, gas furnaces in each unit and more! Each unit has large windows and lots of natural lighting. All units are rented with room to raise rents! Close to downtown and freeway access.

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Tax History for 811 Chestnut Ave

Assessed Value (2020): $709,145
Year Land Value Improved Value Assessed Value
2020 $498,767 $210,378 $709,145

Home Value Compared to the Market

This property vs the competition

811 Chestnut Ave sold on September 30, 2022 for 31.25% higher than the current median sold price for the city of Long Beach which is $800,000. The median sold price per/sqft for Long Beach is $632 and this home is sold at $408.88 per/sqft which puts the price per square foot 35.3% lower than the current median sale per square foot for the city of Long Beach.

About 811 Chestnut Ave

Detailed summary of property

811 Chestnut Ave is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 4 bedrooms, 4 bathrooms, roughly 2,568 living square feet, and sits on an approximately 2,508 square foot lot. 811 Chestnut Ave was first listed on ArdentRealEstateGroup.com on May 10, 2022. The homeowner sold the property for $1,000,000. Home in Long Beach are selling for a median price of $800,000 and a median price per square foot of $632. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 31.25% higher than the current median priced home. Local homes that are currently for sale include 1746 E Florida St, 1890 E 20th St and 3409 Walnut Ave. While the average home in Long Beach, CA is selling in 52 days, 811 Chestnut Ave has a days on market of 62 days. There are currently 647 homes for sale in the Long Beach real estate market and 369 of them are single family homes while 262 of them are condos and 16 are townhomes. For more information on this home for sale at 811 Chestnut Ave Long Beach, CA 90813 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 811 Chestnut Ave

Public county record property details
Beds
4
Baths
4
Year built
1923
Sq. Ft.
2,568
Lot Size
2,508
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
4
APN
7272-015-028

The source for these homes facts are from public records.

90813 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$600,000
Median List Price/Sq.Ft.
$560
Median Sold Price
$584,000
Median Sold Price/Sq.Ft.
$592
Total Inventory
33
Median Sale to List Price %
108.35%
Avg Days on Market
23
Loan Type
Conventional (80%), FHA (10%), VA (10%), Cash (0%), Other (0%)

Thinking of Selling?

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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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