1940 Chestnut Avenue, Long Beach, CA — listing photo 1
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FOR SALE

1940 Chestnut Avenue

Long Beach, CA 90806
14 Beds
14 Baths
9,437 Sq Ft
Built 1946
$3,125,000
Price ReducedWas $3,200,000 — $3,125,000 (-$75,000)

Property Overview

1940 Chestnut Ave | 14-Unit Stabilized Multifamily in Long Beach. 1946-built asset totaling 9,437 SF on an 8,152 SF lot in an established residential corridor one block from major employment and transit corridors in one of Los Angeles' most durable rental submarkets. The property features a (10) 2+1 / (2) Studio / (2) 3+2 unit mix averaging 674 SF with separate utility metering - a cost-efficiency advantage in this dense urban environment. Twelve units are currently occupied and every occupied unit is below market, with in-place rents averaging $1,899.64/month against market rents of $2,003.57, and two units positioned to lease at market rate with zero capital expenditure. Offered at $3,125,000 ($223,214/unit | $331.14/SF) with a 7.08% in-place cap rate, the real story is what's underneath - a 7.62% pro forma cap and $16,904 in incremental annual NOI as two market-ready vacant units lease through straightforward execution with no renovation required.

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Home Details

Property type
Residential Income
Year built
1946
Living area
9,437 sq ft
Lot size
8,147 sq ft
Parking
14 spaces
Days on market
33
MLS status
Active
Zoning
LBR2N

Features & Amenities

Parking

  • Driveway

Community, Schools & Utilities

Utilities

Heating
None
Cooling
None
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Location & Neighborhood

1940 Chestnut Avenue

Long Beach, CA 90806

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Frequently Asked Questions About 1940 Chestnut Avenue

Property type: Residential Income

The current asking price is $3,125,000. Pricing is subject to change and may vary based on market conditions, negotiations, and property updates. Contact our team to verify current pricing.
Yes. Use the Book Visit action or contact form to request an in-person or virtual tour of 1940 Chestnut Avenue. Our team will confirm availability and timing.
This 14 bedrooms and 14 bathrooms property offers approximately 9,437 square feet of living space. It was built in 1946. Review the listing details and disclosures, then independently verify material features before making a decision.
The property is in Long Beach, California. Review the map, visit at relevant times of day, and verify schools, commute routes, services, noise, hazards, and local rules for the exact address.
Financing depends on the buyer, lender, property type, condition, appraisal, insurance, and association documents. A qualified lender can confirm available programs and costs for this Long Beach property.
The MLS currently reports the property as Active. It has been listed for 33 days. Status can change, so verify availability before relying on it.

What clients say

“Reza was the best agent we have ever worked with.”Russell & Susan McQueen

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No obligation. Your inquiry goes directly to the Crown Coastal team.

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Reza Barghlameno

eXp of California

Call: +1 (858) 305-4362
Email: contact@crowncoastalhomes.com

Listing Agent

Name: Taylor Avakian
MLS ID: CLW-C138326

Available property

$3,125,000

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Data provided by California Regional Multiple Listing Service, Inc. ("CRMLS"). Information is for viewer's personal, non-commercial use. All data should be independently verified for accuracy.