NOT LISTED FOR SALE

1981 Chestnut Ave Long Beach, CA 90806

South Wrigley Neighborhood
5 Beds
4 Baths
8,356 Sq Ft
7,638 Sq Ft Lot

Last Sold January 09, 2018

Last sale price $1,775,000 $212 Per Sq Ft

78 Days on Market

Highlights

  • Laundry Room
  • 7 Car Garage
  • Radiant Heating System

About This Home

As of January 2018

The Chestnut Avenue Apartments is an 8-unit apartment community located in the South Wrigley neighborhood. This area features the vibrant submarkets of West Gateway & DTLB. The building is situated on a 7,638 square foot parcel and is comprised of two 1bed/1bath units, four 2 bed/1 bath units and two 2 bed/2 bath units. The property is located within walking distance to bus lines, restaurants, and presents an opportunity to acquire a value-add asset that provides immediate cash flow.

Located in the South Wrigley district in Long Beach, CA. Nearby parks include Cressa Park, David Burcham Field and Drake Park.

Last Agent to Sell the Property

Robert Stepp

Keller Williams Realty Downey License #01456379 Listed on: 08/10/2017

Keller Williams Realty Downey

Last Buyer's Agent

Anthony Walker

Buckingham Investments, Inc License #01908153

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1941

Lot Details

  • 7,638 Sq Ft Lot
  • Two or More Common Walls
  • No Landscaping

Parking

  • 7 Car Garage
  • Parking Available

Home Design

  • Property Attached

Interior Spaces

  • 8,356 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Bathrooms

Utilities

  • Radiant Heating System
  • Septic Type Unknown

Listing and Financial Details

  • Tax Lot 4
  • Tax Tract Number 5730
  • Assessor Parcel Number 7209029004

Community Details

Building Details

  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 8 Separate Water Meters
  • Electric Expense $1,733
  • Insurance Expense $3,342
  • Maintenance Expense $3,600
  • Pest Control $1,000
  • Professional Management Expense $6,190
  • Supplies Expense $1,800
  • Trash Expense $1,733
  • Water Sewer Expense $1,733
  • New Taxes Expense $22,062
  • Operating Expense $43,694
  • Gross Income $123,804
  • Net Operating Income $80,110

Additional Features

  • 8 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1941

Lot Details

0

Parking

7

Listing Details

  • Professional Management Expense: 6190.00
  • Property Attached: Yes
  • Subdivision Name Other: Wrigley Area (WR)
  • Supplies Expense: 1800.00
  • Water Sewer Expenses: 1733.00
  • Zoning: LBR2N
  • Property Type: Residential Income
  • Parcel Number: 7209029004
  • Year Built: 1941
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 212.42

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 7.00
  • Parking: Yes
  • Parking Features: Garage
  • Total Parking Spaces: 7.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Radiant
  • Laundry Features: Community
  • Pest Control Expense: 1000.00
  • Sewer: Unknown
  • Trash Expense: 1733.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: No Landscaping
  • Lot Size Sq Ft: 7638.00

Multi Family

  • Electric Expense: 1733.00
  • Gross Income: 123804.00
  • Gross Scheduled Income: 130320.00
  • Insurance Expense: 3342.00
  • Maintenance Expense: 3600.00
  • Net Operating Income: 80110.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 8
  • Number Of Units Total: 8
  • Operating Expense: 43694.00
  • Rent Control: No
  • Total Expenses: 43694.00

Tax Info

  • New Taxes Expense: 22062.00
  • Tax Census Tract: 5730.04
  • Tax Lot: 4
  • Tax Tract Number: 5730

Range of Values:

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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
01/09/2018 01/09/18 Sold $1,775,000 -1.4% $212 / Sq Ft
10/27/2017 10/27/17 Pending -- -- --
08/26/2017 08/26/17 Price Changed $1,800,000 -7.7% $215 / Sq Ft
08/10/2017 08/10/17 For Sale $1,950,000 -- $233 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Robert Stepp

    Seller's Agent in 2018

    Robert Stepp

    Keller Williams Realty Downey

    (310) 463-2916

    1 in this area

    71 Total Sales

    Robert Stepp
    Section Image
  • Anthony Walker

    Buyer's Agent in 2018

    Anthony Walker

    Buckingham Investments, Inc

    (310) 982-7055

    5 in this area

    80 Total Sales

    Anthony Walker
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW17184670

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90806 South Wrigley

1981 Chestnut Ave, Long Beach, CA

This home is located at 1981 Chestnut Ave, Long Beach, CA 90806 since 10 August 2017. This property was built in 1941. 1981 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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