NOT LISTED FOR SALE

1620 Chestnut Ave Long Beach, CA 90813

Washington School Neighborhood

Estimated Value: $1,252,000 - $1,392,767

9 Beds
4 Baths
4,028 Sq Ft
$326/Sq Ft Est. Value

Sale Details

Date Sold: April 30, 2021

Last sale price $1,175,000 $292 Per Sq Ft

Est. 12% increase in value since last sale

Current estimated payment $8,544 / mo

85 Days on Market

About This Home

As of April 2021

1620 Chestnut is a large 4-unit investment property located in Long Beach, CA. Situated on a large 7,503 square foot lot, the subject property boasts a strong unit mix of (3) 2BD/1BA units and (1) 3BD/1BA unit. One of the 2BD units has been immaculately redone by the owner and will be delivered vacant. The property has multiple tenant amenities including laundry hookups in 3 of 4 units, and 4 detached garages. The owner has kept all capital systems in good condition. Property is being sold at a 4.2% CAP rate and 15.67 GRM with a 23% upside in rents to a market CAP rate of 5.9% and a 12.11 GRM. This building makes a great addition to any investor's portfolio.

Last Agent to Sell the Property

John Alden

Alden Pacific Investments, Inc. License #02114291 Listed on: 11/15/2020

Last Buyer's Agent

Krissy Mussenden

Buckingham Investments, Inc License #02096276

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1917

Lot Details

  • 7,503 Sq Ft Lot
  • 1 Common Wall
  • Density is 2-5 Units/Acre

Parking

  • 4 Car Garage

Home Design

  • Property Attached

Interior Spaces

  • 4,028 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 4 Bathrooms

Location

  • Urban Location

Listing and Financial Details

  • Legal Lot and Block 6 / 7
  • Tax Tract Number 5754
  • Assessor Parcel Number 7269039005

Community Details

Overview

  • 4 Units
  • Wrigley Area Subdivision

Building Details

  • 3 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $600
  • Insurance Expense $1,600
  • Pest Control $706
  • Water Sewer Expense $960
  • New Taxes Expense $15,625
  • Operating Expense $23,852
  • Gross Income $76,500
  • Net Operating Income $50,353

Property Details

Home Type

Multi-Family

Year Built

Built in 1917

Lot Details

7,503 Sq Ft Lot

Parking

4

Listing Details

  • CapRate: 4.20
  • Property Attached: Yes
  • Subdivision Name Other: Wrigley Area (WR)
  • Water Sewer Expenses: 960.00
  • Zoning: LBR4N
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Parcel Number: 7269039005
  • Year Built: 1917
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 1 Common Wall
  • Levels: Two
  • Price Per Square Foot: 291.71

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Total Parking Spaces: 4.00

Utilities

  • Laundry: Yes
  • Pest Control Expense: 706.00
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 7503.00
  • Lot Size Acres: 0.1722

Multi Family

  • Gross Income: 76500.00
  • Gross Multiplier: 15.67
  • Gross Scheduled Income: 76500.00
  • Insurance Expense: 1600.00
  • Lot Size Area: 7503.0000 Square Feet
  • Net Operating Income: 50353.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 3
  • Number Of Units Total: 4
  • Operating Expense: 23852.00
  • Rent Control: No
  • Total Expenses: 23852.00

Tax Info

  • New Taxes Expense: 15625.00
  • Tax Block: 7
  • Tax Census Tract: 5754.01
  • Tax Lot: 6
  • Tax Tract Number: 5754

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 26, 2016
Sold by
Bought by
Current Estimated Value
$1,311,692

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$490,000
Outstanding Balance
$389,117
Interest Rate
3.75%
Mortgage Type
Adjustable Rate Mortgage/ARM
Estimated Equity
$922,575

Purchase Details

Closed on
Oct 25, 2011
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$472,705
Interest Rate
4.37%
Mortgage Type
FHA

Purchase Details

Closed on
Apr 3, 2009
Sold by
Bought by

Purchase Details

Closed on
Mar 25, 2009
Sold by
Bought by

Purchase Details

Closed on
Oct 9, 2003
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$388,000
Interest Rate
4.29%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Dec 4, 2002
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$319,200
Interest Rate
6.15%

Purchase Details

Closed on
Oct 10, 2001
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$145,600
Interest Rate
6.57%

Purchase Details

Closed on
Aug 21, 2001
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$145,600
Interest Rate
6.57%

Purchase Details

Closed on
Mar 20, 2001
Sold by
Bought by

Purchase Details

Closed on
Oct 12, 1999
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$317,874
Interest Rate
7.95%
Mortgage Type
FHA

Purchase Details

Closed on
Jun 3, 1999
Sold by
Bought by

Purchase Details

Closed on
Mar 31, 1999
Sold by
Bought by

Purchase Details

Closed on
Jun 19, 1998
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$289,000
Interest Rate
10.62%

Purchase Details

Closed on
Jun 10, 1998
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$289,000
Interest Rate
10.62%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
-- None Available
$485,000 Investors Title Company
-- None Available
$276,000 None Available
$489,000 Ticor Title Company
$399,000 American Title Co
-- Stewart Title
$224,500 Stewart Title
$348,084 First American Title Ins Co
$348,084 First American Title Ins Co
$327,500 South Coast Title Company
$178,000 Chicago Title Co
$259,412 --
$230,000 Equity Title Company
$340,000 Equity Title
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $490,000
Previous Owner $472,705
Previous Owner $388,000
Previous Owner $319,200
Previous Owner $145,600
Previous Owner $317,874
Previous Owner $289,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
04/30/2021 04/30/21 Sold $1,175,000 -2.0% $292 / Sq Ft
02/08/2021 02/08/21 Pending -- -- --
11/15/2020 11/15/20 For Sale $1,199,000 -- $298 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $17,181 $1,271,857 $541,216 $730,641
2024 $16,477 $1,246,919 $530,604 $716,315
2023 $16,202 $1,222,470 $520,200 $702,270
2022 $15,216 $1,198,500 $510,000 $688,500
2021 $7,616 $562,788 $232,077 $330,711
2020 $7,595 $557,298 $229,698 $327,600
2019 $7,509 $546,377 $225,195 $321,182
2018 $7,197 $535,670 $220,780 $314,890
2016 $6,609 $514,602 $212,207 $302,395
2015 $6,353 $506,873 $209,020 $297,853
2014 $6,327 $496,945 $204,926 $292,019
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2021

    John Alden

    Alden Pacific Investments, Inc.

    Section Image
  • Krissy Mussenden

    Buyer's Agent in 2021

    Krissy Mussenden

    Buckingham Investments, Inc

    (407) 341-3254

    32 Total Sales

    Krissy Mussenden
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB20240042

California Regional Multiple Listing Service (CRMLS)

APN: 7269-039-005

California Los Angeles County Long Beach 90813 Washington School

1620 Chestnut Ave, Long Beach, CA

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

Nearby Homes
Your Personal Tour Guide

Ask me questions while you tour the home.