Seller's Agent in 2019
Robert Stepp
Keller Williams Realty Downey
(310) 463-2916
1 in this area
76 Total Sales
1871 Chestnut Ave Long Beach, CA 90806
South Wrigley Neighborhood
3
Beds
2
Baths
6,660
Sq Ft
7,472
Sq Ft Lot
About This Home
As of August 20191871 Chestnut Avenue is a value-add property with +/-17% rental upside potential. The building features spacious floor plans with natural light, six garages for extra income and on-site laundry facilities. The building has a desirable unit mix of 8 one bedroom, one bath units and 2 two bedroom, one bath units. This area is beginning to benefit from the large amount of capital flooding into Long Beach. As renters move inland from Downtown Long Beach and beach areas, renter demographics are changing in the surrounding areas. There are exciting new developments taking place within just a few blocks of the subject property.
Last Agent to Sell the Property
Keller Williams Realty Downey License #01456379 Listed on: 06/03/2019
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1964
Lot Details
- 7,472 Sq Ft Lot
- Two or More Common Walls
- Density is 6-10 Units/Acre
Parking
- 6 Car Garage
- Parking Available
Home Design
- Property Attached
Interior Spaces
- 6,660 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Location
- Urban Location
Listing and Financial Details
- Tax Lot 6
- Tax Tract Number 5730
- Assessor Parcel Number 7209028009
Community Details
Building Details
- 10 Separate Electric Meters
- 10 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,625
- Fuel Expense $1,625
- Gardener Expense $600
- Insurance Expense $2,664
- Maintenance Expense $3,750
- Other Expense $1,750
- Pest Control $500
- Professional Management Expense $7,297
- Trash Expense $1,625
- Water Sewer Expense $1,625
- New Taxes Expense $26,285
- Operating Expense $49,846
- Gross Income $145,943
- Net Operating Income $96,097
Additional Features
- 10 Units
- Laundry Facilities
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/12/2019 08/12/19 | Sold | $2,025,000 | -1.2% | $304 / Sq Ft |
| 07/26/2019 07/26/19 | Pending | -- | -- | -- |
| 06/03/2019 06/03/19 | For Sale | $2,050,000 | -- | $308 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $28,874 | $2,214,631 | $1,093,645 | $1,120,986 |
| 2024 | $28,874 | $2,171,207 | $1,072,201 | $1,099,006 |
| 2023 | $28,378 | $2,128,635 | $1,051,178 | $1,077,457 |
| 2022 | $26,645 | $2,086,898 | $1,030,567 | $1,056,331 |
| 2021 | $26,095 | $2,045,979 | $1,010,360 | $1,035,619 |
| 2020 | $26,027 | $2,026,760 | $1,000,000 | $1,026,760 |
| 2019 | $15,388 | $1,133,019 | $430,956 | $702,063 |
| 2018 | $14,925 | $1,110,838 | $422,506 | $688,332 |
| 2016 | $13,725 | $1,066,012 | $406,100 | $659,912 |
| 2015 | $12,350 | $975,046 | $685,748 | $289,298 |
| 2014 | $12,307 | $955,948 | $672,316 | $283,632 |
Source: Public Records
Agents Affiliated with this Home
-
Robert Stepp
-
Matt Mahowald
Buyer's Agent in 2019
Matt Mahowald
Buckingham Investments, Inc
(310) 982-7055
1 in this area
29 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW19129351
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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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