J
Seller's Agent in 2021
John Alden
Alden Pacific Investments, Inc.
1620 Chestnut Ave Long Beach, CA 90813
Washington School NeighborhoodEstimated Value: $1,212,000 - $1,495,000
9
Beds
4
Baths
4,028
Sq Ft
$345/Sq Ft
Est. Value
About This Home
As of April 20211620 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
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
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Mar 26, 2016
Sold by
Adolph Marc R
Bought by
Adolph Marc R
Current Estimated Value
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
$999,132
Purchase Details
Closed on
Oct 25, 2011
Sold by
Klingerman Paul Lester
Bought by
Adolph Marc
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
Balboa Pacific Management Ltd
Bought by
Provenza Tracee Cay and Balboa Pacific Management Ltd
Purchase Details
Closed on
Mar 25, 2009
Sold by
Klingerman Paul Lester
Bought by
Balboa Pacific Management Ltd and Newport Pacific Limited
Purchase Details
Closed on
Oct 9, 2003
Sold by
Elakodical Joseph
Bought by
Klingerman Paul Lester and Klingerman Cathi Lee
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
Nguyen Harry
Bought by
Elakodical Joseph and Abraham Silvy
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
Bui Yen
Bought by
Nguyen Harry
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
Washington Mutual Home Loans
Bought by
Hud
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
Palacio Rafael
Bought by
Fleet Mtg Corp
Purchase Details
Closed on
Oct 12, 1999
Sold by
Medina Alexander
Bought by
Palacio Rafael and Palacio Sandra
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
Ocwen Financial Services Inc
Bought by
Medina Alexander
Purchase Details
Closed on
Mar 31, 1999
Sold by
Hussain Sabir
Bought by
Ocwen Financial Services Inc
Purchase Details
Closed on
Jun 19, 1998
Sold by
Acosta Frank P
Bought by
Phns Inc
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
Phns Inc
Bought by
Hussain Sabir
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%
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
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Adolph Marc R | -- | None Available | |
| Adolph Marc | $485,000 | Investors Title Company | |
| Provenza Tracee Cay | -- | None Available | |
| Balboa Pacific Management Ltd | $276,000 | None Available | |
| Klingerman Paul Lester | $489,000 | Ticor Title Company | |
| Elakodical Joseph | $399,000 | American Title Co | |
| Nguyen Harry | -- | Stewart Title | |
| Nguyen Harry | $224,500 | Stewart Title | |
| Hud | $348,084 | First American Title Ins Co | |
| Fleet Mtg Corp | $348,084 | First American Title Ins Co | |
| Palacio Rafael | $327,500 | South Coast Title Company | |
| Medina Alexander | $178,000 | Chicago Title Co | |
| Ocwen Financial Services Inc | $259,412 | -- | |
| Phns Inc | $230,000 | Equity Title Company | |
| Hussain Sabir | $340,000 | Equity Title |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Adolph Marc R | $490,000 | |
| Previous Owner | Adolph Marc | $472,705 | |
| Previous Owner | Klingerman Paul Lester | $388,000 | |
| Previous Owner | Elakodical Joseph | $319,200 | |
| Previous Owner | Nguyen Harry | $145,600 | |
| Previous Owner | Palacio Rafael | $317,874 | |
| Previous Owner | Hussain Sabir | $289,000 |
Source: Public Records
Property History
| 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
| 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 | $16,477 | $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
-
-
Krissy Mussenden
Buyer's Agent in 2021
Krissy Mussenden
Buckingham Investments, Inc
(407) 341-3254
1 in this area
32 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB20240042
APN: 7269-039-005
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.
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
- 1415 Cedar Ave
- 1626 Pine Ave
- 1566 Pine Ave Unit 202A
- 1602 Locust Ave
- 1640 Locust Ave
- 1924 Cedar Ave
- 1757 Long Beach Blvd
- 1238 Magnolia Ave
- 1868 Locust Ave
- 1598 Long Beach Blvd Unit 410
- 1598 Long Beach Blvd Unit 305
- 1598 Long Beach Blvd Unit 412
- 1598 Long Beach Unit 405
- 1598 Long Beach Unit 307
- 1598 Long Beach Unit 214
- 1598 Long Beach Unit 401
- 1598 Long Beach Unit 201
- 1598 Long Beach Unit 407
- 225 W 12th St
- 2015 Cedar Ave
- 1628 Chestnut Ave
- 1614 Chestnut Ave
- 1606 Chestnut Ave Unit 1612
- 1606 Chestnut Ave Unit 1610
- 336 W 17th St
- 324 W 17th St
- 346 W 17th St
- 1600 Chestnut Ave
- 1643 Cedar Ave
- 1605 Cedar Ave
- 1629 Cedar Ave
- 1584 Chestnut Ave
- 335 W 17th St
- 325 W 17th St
- 345 W 17th St
- 1601 Cedar Ave
- 1639 Chestnut Ave
- 1615 Chestnut Ave
- 323 W 17th St
- 1633 Chestnut Ave
Your Personal Tour Guide
Ask me questions while you tour the home.