NOT LISTED FOR SALE

1435 Chestnut Ave Long Beach, CA 90813

Washington School Neighborhood

Estimated Value: $708,000 - $891,000

4 Beds
2 Baths
1,524 Sq Ft
$526/Sq Ft Est. Value

Last Sold September 11, 2019

Last sale price $570,000 $374 Per Sq Ft

Est. 41% increase in value since last sale

Current estimated payment $4,859/month

20 Days on Market

Highlights

  • All Bedrooms Downstairs
  • Laundry Room
  • 2-minute walk to 14th Street Park

About This Home

As of September 2019

BACK ON THE MARKET! Subject to cancelation of current escrow... RARE OPPORTUNITY DUPLEX IN LONG BEACH, incredible cashflow potential. New Windows! Just minutes from the Ocean, Queen Mary, Downtown Long Beach, the Aquarium of the Pacific, convention center, etc. This is a high demand area and a prime rental location. Units are getting updates and new paint! Both units are a spacious 2 Bed 1 Bath with great floorpans. Property also has a detached 2 car garage. This area is made up of many multiple family properties with ample street parking spaces available. There is a well maintained family friendly park directly across the street. Property has Separate Electric and Gas meters with 1 water meter.

Last Agent to Sell the Property

Zak Ols

Cal American Homes License #01960059 Listed on: 07/27/2019

Last Buyer's Agent

Zak Ols

Cal American Homes License #01960059 Listed on: 07/27/2019

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1943

Lot Details

  • 4,303 Sq Ft Lot
  • 1 Common Wall
  • Density is 2-5 Units/Acre

Parking

  • 2 Open Parking Spaces
  • 2 Car Garage

Home Design

  • 1,524 Sq Ft Home
  • Property Attached
  • Shingle Roof

Bedrooms and Bathrooms

  • 4 Bedrooms
  • All Bedrooms Down
  • 2 Bathrooms

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Listing and Financial Details

  • Legal Lot and Block 18 / B
  • Tax Tract Number 7518
  • Assessor Parcel Number 7269040035

Community Details

Overview

  • 2 Units

Building Details

  • Rent Control
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $800
  • Trash Expense $600
  • Water Sewer Expense $1,200
  • New Taxes Expense $7,200
  • Operating Expense $9,800
  • Gross Income $46,800
  • Net Operating Income $37,000

Property Details

Home Type

Multi-Family

Year Built

Built in 1943

Lot Details

0

Parking

2

Listing Details

  • Property Attached: Yes
  • Subdivision Name Other: Willmore District (WM)
  • Water Sewer Expenses: 1200.00
  • Zoning: LBR4N
  • Property Type: Residential Income
  • Parcel Number: 7269040035
  • Year Built: 1943
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Levels: One
  • Price Per Square Foot: 374.02
  • Room Type: All Bedrooms Down

Exterior Features

  • Pool Private: No
  • Roof: Shingle

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 4.00
  • Uncovered Spaces: 2.00

Utilities

  • Laundry: Yes
  • Laundry Features: Gas Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer
  • Trash Expense: 600.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 4303.00
  • Lot Size Acres: 0.0988

Multi Family

  • Average2 Bed Area: 762 Square Feet
  • Gross Income: 46800.00
  • Gross Scheduled Income: 46800.00
  • Insurance Expense: 800.00
  • Lot Size Area: 4303.0000 Square Feet
  • Net Operating Income: 37000.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 2
  • Operating Expense: 9800.00
  • Rent Control: Yes
  • Total Expenses: 9800.00

Tax Info

  • New Taxes Expense: 7200.00
  • Tax Block: B
  • Tax Census Tract: 5754.01
  • Tax Lot: 18
  • Tax Tract Number: 7518

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Aug 28, 2024
Sold by
1435 Chestnut Llc
Bought by
Pounder-Valizadeh Family Trust and Pounder
Current Estimated Value
$800,965

Purchase Details

Listed on
Jul 27, 2019
Closed on
Aug 21, 2019
Sold by
Ols Investments Llc
Bought by
Pounder Scott and Valizadeh Nooshin
Seller's Agent
Zak Ols
Cal American Homes
Buyer's Agent
Zak Ols
Cal American Homes
List Price
$598,000
Sold Price
$570,000
Premium/Discount to List
-$28,000
-4.68%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.53%

Purchase Details

Closed on
Jun 3, 2019
Sold by
Jws Properties Llc
Bought by
Ols Investments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$304,500
Interest Rate
3.82%
Mortgage Type
Commercial

Purchase Details

Closed on
May 31, 2019
Sold by
Benavidez Christina and Rodriguez Yolanda
Bought by
Iws Properties Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$304,500
Interest Rate
3.82%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 2, 2002
Sold by
Hess Damon Lee
Bought by
Jamangiri Makay

Purchase Details

Closed on
Aug 10, 2001
Sold by
Hud
Bought by
Hess Damon L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$154,850
Interest Rate
8.9%

Purchase Details

Closed on
Dec 18, 2000
Sold by
Countrywide Home Loans
Bought by
Hud

Purchase Details

Closed on
Oct 16, 1998
Sold by
Rodriguez Angel Luis
Bought by
Morales Jose Guadalupe

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$177,930
Interest Rate
6.78%
Mortgage Type
FHA

Purchase Details

Closed on
Sep 30, 1998
Sold by
Innocenti Michael V
Bought by
Rodriguez Angel Luis

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$177,930
Interest Rate
6.78%
Mortgage Type
FHA
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Pounder-Valizadeh Family Trust -- None Listed On Document
Pounder-Valizadeh Family Trust -- None Listed On Document
Pounder Scott $570,000 First American Title Company
Ols Investments Llc $437,500 First American Title Company
Iws Properties Llc $430,000 First American Title Company
Jamangiri Makay -- --
Hess Damon L $163,500 Ticor Title
Hud -- Landsafe Title
Countrywide Home Loans Inc $189,620 Landsafe Title
Morales Jose Guadalupe $180,000 Benefit Land Title Company
Rodriguez Angel Luis $114,000 Continental Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Ols Investments Llc $304,500
Previous Owner Iws Properties Llc $130,500
Previous Owner Hess Damon L $154,850
Previous Owner Morales Jose Guadalupe $177,930
Previous Owner Rodriguez Angel Luis $114,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/11/2019 09/11/19 Sold $570,000 0.0% $374 / Sq Ft
09/09/2019 09/09/19 Off Market $570,000 -- --
09/03/2019 09/03/19 Price Changed $589,000 -1.5% $386 / Sq Ft
07/27/2019 07/27/19 For Sale $598,000 -- $392 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $8,046 $623,375 $328,093 $295,282
2024 $8,046 $611,153 $321,660 $289,493
2023 $7,911 $599,170 $315,353 $283,817
2022 $7,428 $587,422 $309,170 $278,252
2021 $7,280 $575,905 $303,108 $272,797
2020 $7,262 $570,000 $300,000 $270,000
2019 $3,557 $259,653 $96,068 $163,585
2018 $3,403 $254,563 $94,185 $160,378
2016 $3,129 $244,680 $90,529 $154,151
2015 $3,008 $241,006 $89,170 $151,836
2014 $2,996 $236,286 $87,424 $148,862
Source: Public Records

Agents Affiliated with this Home

  • Zak Ols

    Seller's Agent in 2019

    Zak Ols

    Cal American Homes

    (909) 720-8283

    69 Total Sales

    Zak Ols
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV19153459

California Regional Multiple Listing Service (CRMLS)

APN: 7269-040-035

California Los Angeles County Long Beach 90813 Washington School

1435 Chestnut Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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