Lynsey Russell
Keller Williams Pacific Estate
(424) 349-4623
123 Total Sales
2 in South Wrigley
$675K - $850K Price Range
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
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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
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
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
Aug 20, 2020
Sold by
Engelman Lionel T and Engelman Family Trust
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
$1,060,000
Outstanding Balance
$811,372
Interest Rate
2.9%
Mortgage Type
Construction
Purchase Details
Closed on
Mar 3, 2020
Sold by
Engelman Lionel T and The Engelman Family Trust
Bought by
1871 Chestnut Apts Llc
Purchase Details
Listed on
Jun 3, 2019
Closed on
Jul 23, 2019
Sold by
Heera 1871 Llc
Bought by
Engelman Lionel T and The Engelman Family Trust
Seller's Agent
Robert Stepp
Keller Williams Realty Downey
Buyer's Agent
Matt Mahowald
Buckingham Investments, Inc
List Price
$2,050,000
Sold Price
$2,025,000
Premium/Discount to List
-$25,000
-1.22%
Purchase Details
Closed on
Feb 17, 2015
Sold by
1871 Chestnut Ave Llc
Bought by
Heera 1871 Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$660,000
Interest Rate
3.66%
Mortgage Type
Commercial
Purchase Details
Closed on
Oct 17, 2008
Sold by
Kenney Shane J and Kenney Renee L
Bought by
1871 Chestnut Ave Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$682,500
Interest Rate
5.9%
Mortgage Type
Commercial
Purchase Details
Closed on
Jun 22, 2004
Sold by
1871 Chestnut Avenue Llc
Bought by
Kenney Shane J and Kenney Renee L
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$534,000
Interest Rate
5.74%
Mortgage Type
Commercial
Purchase Details
Closed on
Jan 16, 2003
Sold by
Gordon Alfred T and Gordon Carmen
Bought by
1871 Chestnut Avenue Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$405,000
Interest Rate
6%
Mortgage Type
Commercial
Purchase Details
Closed on
Nov 10, 1999
Sold by
Gordon Alfred T and Gordon Carmen
Bought by
Gordon Alfred T and Gordon Carmen
Purchase Details
Closed on
Apr 15, 1999
Sold by
Parker James Wesley and Parker Shona Ann
Bought by
Parker James Wesley and Parker Shona Ann
Purchase Details
Closed on
Apr 15, 1996
Sold by
Fidelity Federal Bank Fsb
Bought by
Parker James W and Parker Shona Ann
Purchase Details
Closed on
Nov 9, 1995
Sold by
Gardezi Syed M and Fidelity Federal Bank Fsb
Bought by
Fidelity Federal Bank Fsb
Home Values in the Area
Average Home Value in this Area
Agents Specializing in South Wrigley, CA
-
Lynsey Russell
-
James McCormick
James McCormick
Real Broker
(657) 238-1775
29 Total Sales
1 in South Wrigley
$975,000 Price
-
Dave Shorter
Dave Shorter
David Shorter, Broker
(562) 418-5957
37 Total Sales
3 in South Wrigley
$790,000 Price Range
-
Kimiah Wyer
Kimiah Wyer
Keller Williams Realty
(562) 247-4034
46 Total Sales
1 in South Wrigley
$769,000 Price
-
Josh Stein-Sapir
Josh Stein-Sapir
Keyes Real Estate
(562) 456-3475
137 Total Sales
1 in South Wrigley
$865,000 Price
-
Shannon Daniele
Shannon Daniele
HomeSmart Realty Group
(562) 352-1142
34 Total Sales
2 in South Wrigley
$845,000 Price Range
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 |
|---|---|---|---|
| -- | Orange Coast Title | ||
| 1871 Chestnut Apts Llc | -- | None Available | |
| Engelman Lionel T | $2,025,000 | North American Title | |
| Heera 1871 Llc | $1,050,000 | First American Title | |
| 1871 Chestnut Ave Llc | $910,000 | Chicago Title Company | |
| Kenney Shane J | $810,000 | Fidelity Van Nuys | |
| 1871 Chestnut Avenue Llc | $550,000 | Ticor | |
| Gordon Alfred T | -- | -- | |
| Gordon Alfred T | -- | -- | |
| Parker James Wesley | -- | Fidelity Title | |
| Gordon Alfred T | $265,000 | Fidelity Title | |
| Parker James W | $145,000 | -- | |
| Fidelity Federal Bank Fsb | $101,500 | American Title Ins Co |
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 | $1,060,000 | ||
| Previous Owner | Heera 1871 Llc | $660,000 | |
| Previous Owner | 1871 Chestnut Ave Llc | $682,500 | |
| Previous Owner | Kenney Shane J | $534,000 | |
| Previous Owner | 1871 Chestnut Avenue Llc | $405,000 |
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 |
|---|---|---|---|---|
| 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
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 |
|---|---|---|---|---|
| 2026 | $30,206 | $2,258,922 | $1,115,517 | $1,143,405 |
| 2025 | $30,206 | $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
Seller's Agent in 2019
Robert Stepp
Keller Williams Realty Downey
(310) 463-2916
1 in this area
80 Total Sales
-
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
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
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