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Sold on 04/22/2025
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2024 Chestnut Ave, Long Beach, CA 90806

$1,290,000

Last sold 04/22/2025 after 187 Days

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    bed

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    bath

Multi-family not for sale
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About 2024 Chestnut Ave

Property type Multi-family
Neighborhood
Year built 1928
HOA fee $0/month
Lot size 6,399 Sqft
Parking 4 garage spaces
Rental estimate
Property description
Just reduced! Large 5 unit building with (3) 3-Bed Units, (1) Large 2-Bed Unit, and (1) 1-bed unit in the excellent neighborhood of South Wrigley. The building is conveniently located less than a mile from the 710 Freeway, less than 2 miles from the 405, and just 2 miles North of the beach. Attractive residential tree-lined street. The property is priced to sell at 10.86 GRM and a current cap rate of 5.66%. There is approximately 7% upside in income to a market cap rate of 6.3%. It has fresh exterior paint and the electrical system was just updated in September of 2024. There is also a detached garage building off of the back alley that has 4 spots in 3 separate garages. Perfect ADU opportunity.
Listed by
Listing Agent - Anthony Walker
Listing Agent Contact: 310-561-4776
Listing Office - Buckingham Investments, Inc
Source: CRMLS mls logo
MLS#SB24215716 • last updated 1 year ago
Movoto checked CRMLS for data 2 minutes ago
Overview
Levels/Style Two, Mediterranean
Type Residential Income
SubType Apartment
Status Closed
Lot Size (Acres) 0.1469
Lot Size (SqFt) 6399
Year Built 1928
Interior
Laundry Community
Appliances Gas Oven, Gas Range
Interior Features Laminate Counters, Quartz Counters
Accessibility Features None
Exterior
Building Area Square Feet, 3692
Parking Garage Faces Rear
# Parking Spaces 4
# Garage Spaces 4
Lot Description 0-1 Unit/Acre
Amenities / Utilities
Fireplaces None
Sewer/ Septic Public Sewer
Water Source Public
Electric 220 Volts
Spa None
Pool None
Location
View None
County Los Angeles
Community Features Suburban
Subdivision Wrigley Area (WR), Wrigley Area (WR)
Neighborhood South Wrigley
Zoning LBR2N
Directions West Of Pacific, North Of PCH
APN 7209025009
Multifamily Details
Vacancy Allowance Rate 5
Expense: Trash 456
Operating Expense 41819
Cap Rate 5.7
Expense: Insurance 6461
Total Expenses 41819
Expense: Water/ Sewer 2012
Gross Income 124272
Gross Multiplier 10.86
Gross Scheduled Income 124272
Expense: Fuel 1383
Expense: Gardener 1200
Rental est.: $1,455/month
Gross rent multiplier: 73.9
  • Apr 2025
    mls logo MLS # SB24215716
  • Apr 23, 2025 Sold
    $1,290,000 (-0.7%)
  • Feb 28, 2025 Pending
    —
  • Feb 3, 2025 Active
    —
  • Jan 16, 2025 Price Change
    $1,299,000 (-3.8%)
  • Nov 21, 2024 Price Change
    $1,350,000 (-3.5%)
  • Oct 17, 2024 Listed
    $1,399,000 (+7.6%)
  • Sep 2021
    Public Records
  • Sep 14, 2021 Sold
    $1,300,000 (+202.3%)
  • Sep 2012
    Public Records
  • Sep 7, 2012 Sold
    $430,000 (-52.2%)
  • Aug 2007
    Public Records
  • Aug 15, 2007 Sold
    $900,000 (+164.7%)
  • Jan 2003
    Public Records
  • Jan 30, 2003 Sold
    $340,000
  • Year Property taxes Tax assessment
  • 2024
    $17,720 +1.7%
    $1,353,100
  • 2023
    $17,423 +6.5%
    $1,353,100 +2.0%
  • 2022
    $16,356 +115.4%
    $1,326,580 +134.04%
  • 2021
    $7,593 +0.3%
    $566,828
  • 2020
    $7,572 +4.9%
    $566,828 +5.11%
  • 2018
    $7,217
    $539,262
  • 2024 Chestnut Ave
    $1.29M
  • South Wrigley
    $836K -4% y/y
  • 90806
    $799K +5% y/y
  • Long Beach
    $699K 0% y/y
No chart available
Statistics calculated by Movoto

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6/10
Lafayette Elementary School
public Grades K-5
Long Beach Unified School District
4/10
Washington Middle School
public Grades 6-8
Long Beach Unified School District
4/10
Cabrillo High School
public Grades 9-12
Long Beach Unified School District
Source: GreatSchools.org © 2026. All rights reserved.

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CRMLS Multiple Listing Service™ system
The real estate listing data marked with this icon comes from the IDX program of the CRMLS Multiple Listing Service™ system.
Based on information from California Regional Multiple Listing Service, Inc. as of 11/3/2026. 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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