$2,600,000

2175 Chestnut Ave Long Beach, CA 90806

South Wrigley Neighborhood

Estimated payment $16,330/month

Total Views 1,319
-- Bed
1 Bath
8,154 Sq Ft
$319 Price per Sq Ft

About This Home

We are pleased to present 2175 Chestnut Avenue, located in Long Beach, California. This 2-story, 14-unit multifamily building was originally built in 1929 and represents an excellent value-add opportunity in the desirable South Wrigley neighborhood of Long Beach. The total building area is approximately 8,154 square feet, situated on a 6,470 square-foot parcel. The unit mix consists of fourteen (14) large studio units averaging ±585 square feet each. The property features new electric sub-panels and is separately metered for gas and electricity, helping to keep operating expenses low. There are also four parking spaces in the rear, which can generate additional income.

Listing Agent

Kevin King

Marcus & Millichap Brokerage Email: kking@marcusmillichap.com License #01158184 Listed on: 10/28/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1929

Lot Details

  • 6,534 Sq Ft Lot
  • 1 Common Wall
  • Density is 11-15 Units/Acre

Parking

  • 5 Car Garage

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 1 Bathroom
  • 8,154 Sq Ft Home
  • 2-Story Property

Listing and Financial Details

  • Legal Lot and Block 15 / 2
  • Tax Tract Number 10243
  • Assessor Parcel Number 7205026015
  • $2,400 per year additional tax assessments

Community Details

Overview

  • 14 Units

Recreation

  • Bike Trail

Building Details

  • Rent Control
  • 15 Separate Electric Meters
  • 2 Separate Water Meters
  • Electric Expense $3,674
  • Fuel Expense $3,674
  • Gardener Expense $960
  • Insurance Expense $10,066
  • Maintenance Expense $2,580
  • Other Expense $1,828
  • Professional Management Expense $9,720
  • Trash Expense $3,674
  • Water Sewer Expense $3,674
  • New Taxes Expense $31,070
  • Operating Expense $70,920
  • Gross Income $221,116
  • Net Operating Income $150,596

Property Details

Home Type

Multi-Family

Year Built

Built in 1929

Lot Details

0

Parking

5

Listing Details

  • CapRate: 5.79
  • Professional Management Expense: 9720.00
  • Property Attached: Yes
  • Subdivision Name Other: South Wrigley
  • Water Sewer Expenses: 3674.00
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 960.00
  • Parcel Number: 7205026015
  • Year Built: 1929
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 1 Common Wall
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 318.86

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 5.00
  • Total Parking Spaces: 5.00

Utilities

  • Laundry: No
  • Sewer: Public Sewer
  • Trash Expense: 3674.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Biking, Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 11-15 Units/Acre
  • Lot Size Sq Ft: 6534.00
  • Lot Size Acres: 0.1500

Multi Family

  • Electric Expense: 3674.00
  • Fuel Expense: 3674.00
  • Gross Income: 221116.00
  • Gross Scheduled Income: 225480.00
  • Insurance Expense: 10066.00
  • Lot Size Area: 0.1500 Acres
  • Maintenance Expense: 2580.00
  • Net Operating Income: 150596.00
  • Number Of Separate Electric Meters: 15
  • Number Of Separate Water Meters: 2
  • Number Of Units Total: 14
  • Operating Expense: 70920.00
  • Other Expense: 1828.00
  • Other Expense Description: Res, AD
  • Rent Control: Yes
  • Total Expenses: 70920.00

Tax Info

  • New Taxes Expense: 31070.00
  • Tax Block: 2
  • Tax Lot: 15
  • Tax Tract Number: 10243
  • TaxOtherAnnualAssessmentAmount: 2400.00

Map

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 List to Sale Price per Sq Ft
10/28/2025 10/28/25 For Sale $2,600,000 -- $319 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW25248922

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

2175 Chestnut Ave, Long Beach, CA

For Sale

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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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Kevin King
Listing Agent
Kevin King
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Marcus & Millichap
(562) 526-0834