NOT LISTED FOR SALE

1575 Chestnut Ave Long Beach, CA 90813

Washington School Neighborhood
19 Beds
8 Baths
7,470 Sq Ft
7,470 Sq Ft Lot

Last Sold August 10, 2015

Last sale price $1,385,000 $185 Per Sq Ft

29 Days on Market

About This Home

As of August 2015

Built in 1960, 1575 Chestnut Avenue has a total of nine units that were built upon a raised foundation and enclosed with a flat roof. The property has an outstanding unit mix that consists of six two-bedroom/one-bathroom units and three three-bedroom/one-bathroom units. The subject property also has five single-car garages and gated access at the front and rear of the property.

1575 Chestnut Avenue is located in a strong rental market that rarely sees vacancy. Having been recently rehabbed with new paint and vinyl windows, it would be a great addition to the portfolio of any investor looking for strong cash flow in a turnkey asset.

Last Agent to Sell the Property

Steve Bogoyevac

Steven M. Bogoyevac, Broker License #01332755 Listed on: 05/15/2015

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1960

Lot Details

  • 7,470 Sq Ft Lot
  • No Units Located Below
  • 1 Common Wall

Parking

  • 5 Car Garage

Home Design

  • 7,470 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 19 Bedrooms
  • 8 Bathrooms

Utilities

  • Septic Type Unknown

Listing and Financial Details

  • Tax Lot 44
  • Tax Tract Number 6
  • Assessor Parcel Number 7269038029

Community Details

Overview

  • 9 Units

Building Details

  • 1 Separate Electric Meter
  • 1 Separate Gas Meter
  • Electric Expense $1,126
  • Gardener Expense $840
  • Insurance Expense $2,799
  • Maintenance Expense $4,640
  • Other Expense $1,800
  • Professional Management Expense $4,860
  • Trash Expense $258
  • Water Sewer Expense $2,618
  • New Taxes Expense $16,767
  • Gross Income $9,666
  • Net Operating Income $75,501

Property Details

Home Type

Multi-Family

Year Built

Built in 1960

Lot Details

0

Parking

5

Listing Details

  • Professional Management Expense: 4860.00
  • Property Attached: Yes
  • Water Sewer Expenses: 2618.00
  • Property Type: Residential Income
  • Gardener Expense: 840.00
  • Parcel Number: 7269038029
  • Year Built: 1960
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall, No One Below
  • Levels: Two
  • Price Per Square Foot: 185.41

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 5.00
  • Total Parking Spaces: 5.00

Utilities

  • Sewer: Unknown
  • Trash Expense: 258.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Sidewalks

Lot Info

  • Lot Features: Lot 6500-9999
  • Lot Size Sq Ft: 7470.00
  • Price Per Lot Square Foot: 185.41
  • Lot Size Acres: 0.1710

Multi Family

  • Electric Expense: 1126.00
  • Gross Income: 9666.00
  • Gross Scheduled Income: 115992.00
  • Insurance Expense: 2799.00
  • Lot Size Area: 7470.0000 Square Feet
  • Maintenance Expense: 4640.00
  • Net Operating Income: 75501.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Units Total: 9
  • Operating Expense: 37461.00
  • Other Expense: 1800.00
  • Other Expense Description: Reserves
  • Rent Control: No
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 16767.00
  • Tax Lot: 44
  • Tax Tract Number: 6
  • Tax Year: 2014

Range of Values:

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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

Property History

Date Event Price Change Sq Ft Price
08/10/2015 08/10/15 Sold $1,385,000 +889.3% $185 / Sq Ft
06/13/2015 06/13/15 Pending -- -- --
05/15/2015 05/15/15 For Sale $140,000 -- $19 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • S

    Seller's Agent in 2015

    Steve Bogoyevac

    Steven M. Bogoyevac, Broker

    (562) 257-1200

    96 Total Sales

    Section Image

  • N

    Buyer's Agent in 2015

    NoEmail NoEmail

    NONMEMBER MRML

    (646) 541-2551

    5,781 Total Sales

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW15104749

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Long Beach 90813 Washington School

1575 Chestnut Ave, Long Beach, CA

This home is located at 1575 Chestnut Ave, Long Beach, CA 90813 since 15 May 2015. This property was built in 1960. 1575 Chestnut Ave is a home located in Los Angeles County with nearby schools including Lafayette Elementary School, Washington Middle School, and Juan Rodriguez Cabrillo High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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