$1,799,000
$50K PRICE DROP

2200 Chestnut Ave Long Beach, CA 90806

South Wrigley Neighborhood

Estimated payment $11,384/month

Total Views 6,452
3 Beds
2 Baths
5,504 Sq Ft
$327 Price per Sq Ft

About This Home

Beautifully restored Spanish Revival 6-unit complex in Long Beach’s historic South Wrigley neighborhood. Features (4) large 2-bed/1-bath and (2) 1-bed/1-bath units totaling 5,504 SF. Upgrades include new electrical panels, copper plumbing, on-site laundry, and garages. Assumable financing at 3.20% fixed through May 2026, then 4.20% until Nov 2026, 5.20% until May 2027, and 6.20% until Nov 2027. Current 5.10% cap rate with upside to 6.67% pro forma. Additional income could be achieved through RUBS, pet rent, parking, and potential ADU development where existing garages are located. Excellent location near Downtown, transit, and schools—strong cash flow and long-term upside.

Listing Agent

Patrick Swanson

Pat Swanson Brokerage Phone: 213-864-2862 License #01382974 Listed on: 04/14/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1932

Lot Details

  • 6,500 Sq Ft Lot
  • 1 Common Wall
  • Density is 6-10 Units/Acre

Parking

  • 5 Car Garage

Home Design

  • Apartment

Interior Spaces

  • 5,504 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Additional Features

  • Rain Gutters
  • Urban Location

Community Details

Recreation

  • Bike Trail

Building Details

  • 7 Separate Electric Meters
  • 7 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $300
  • Gardener Expense $600
  • Insurance Expense $5,504
  • Trash Expense $1,500
  • Water Sewer Expense $1,500
  • Operating Expense $38,792
  • Gross Income $137,478
  • Net Operating Income $94,939

Additional Features

  • 6 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1932

Lot Details

0

Parking

5

Listing Details

  • CapRate: 5.28
  • Price Per Unit: 299833
  • Property Attached: Yes
  • Water Sewer Expenses: 1500.00
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Year Built: 1932
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: Ground
  • Common Walls: 1 Common Wall
  • Price Per Square Foot: 326.85

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 5.00
  • Total Parking Spaces: 5.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area, Individual Room
  • Sewer: Public Sewer
  • Trash Expense: 1500.00
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 6500.00
  • Lot Size Acres: 0.1492
  • Latitude Manual: 33.79728300

Multi Family

  • Average1 Bed Area: 752 Square Feet
  • Average2 Bed Area: 1000 Square Feet
  • Electric Expense: 300.00
  • Gross Income: 137478.00
  • Gross Multiplier: 13.09
  • Gross Scheduled Income: 137478.00
  • Insurance Expense: 5504.00
  • Lot Size Area: 6500.0000 Square Feet
  • Net Operating Income: 94939.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Operating Expense: 38469.00
  • Rent Control: No
  • Total Expenses: 38792.00
  • Vacancy Allowance: 4070
  • Vacancy Allowance Rate: 3.00

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 Change Sq Ft Price
06/16/2025 06/16/25 Price Changed $1,799,000 -1.4% $327 / Sq Ft
06/02/2025 06/02/25 Price Changed $1,825,000 -0.8% $332 / Sq Ft
05/12/2025 05/12/25 Price Changed $1,839,000 -0.5% $334 / Sq Ft
04/14/2025 04/14/25 For Sale $1,849,000 -- $336 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC25078995

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

2200 Chestnut Ave, Long Beach, CA

This home is located at 2200 Chestnut Ave, Long Beach, CA 90806 and is currently priced at $1,799,000, approximately $326 per square foot. This property was built in 1932. 2200 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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Patrick Swanson
Listing Agent
Patrick Swanson
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Pat Swanson
(562) 284-2316