NOT LISTED FOR SALE

2375 Chestnut Ave Long Beach, CA 90806

South Wrigley Neighborhood
10 Beds
7 Baths
7,048 Sq Ft
6,499 Sq Ft Lot

Last Sold May 23, 2014

Last sale price $1,200,000 $170 Per Sq Ft

8 Days on Market

About This Home

As of May 2014

We are proud to offer a well-maintained, attractive eight-unit property in the city of Long Beach. The subject property is located at 2375 Chestnut Avenue, two blocks south of Willow Street and four blocks east of Magnolia Avenue, in the heart of Wrigley District. This investment features an excellent unit mix of four one-bedroom/one-bath units with den, one two-bedroom/one-bath unit with den, and three two-bedroom/one-bath units. Built in 1937, this property is a two story walk-up style building with central hallways and approximately 7,048 rentable square feet and a lot size of 6,499 square feet. This property is well landscaped and offers two enclosed garages and three open spaces in the rear for tenant's convenience.2375 Chestnut Avenue is within close proximity to Lafayette Elementary School, numerous restaurants and shopping centers along Pacific Avenue. This property offers an investor the rare opportunity to acquire a well-maintained income property in a strong rental market. WIth strong rents in place and numerous upgrades to the interior of the units, this property is ideal for an investor looking to get into the business or add to their existing portfolio.

Last Agent to Sell the Property

Kevin King

Marcus & Millichap License #01158184 Listed on: 03/24/2014

Last Buyer's Agent

Jeff Chonis

Buckingham Investments, Inc. License #01804283

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1937

Lot Details

  • 6,499 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Parking

  • 2 Car Garage

Home Design

  • 7,048 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 7 Bathrooms

Utilities

  • Septic Type Unknown

Listing and Financial Details

  • Tax Lot 15
  • Tax Tract Number 57310
  • Assessor Parcel Number 7205014017

Community Details

Overview

  • 8 Units

Building Details

  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $2,760
  • Maintenance Expense $6,000
  • Other Expense $1,600
  • Pest Control $816
  • Professional Management Expense $5,314
  • Trash Expense $2,500
  • Water Sewer Expense $3,732
  • New Taxes Expense $13,500
  • Gross Income $8,507
  • Net Operating Income $64,748

Property Details

Home Type

Multi-Family

Year Built

Built in 1937

Lot Details

0

Parking

2

Listing Details

  • CapRate: 5.40
  • Professional Management Expense: 5314.00
  • Property Attached: Yes
  • Subdivision Name Other: Wrigley Area (WR)
  • Water Sewer Expenses: 3732.00
  • Property Type: Residential Income
  • Parcel Number: 7205014017
  • Year Built: 1937
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 170.26

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 5.00

Utilities

  • Pest Control Expense: 816.00
  • Sewer: Unknown
  • Trash Expense: 2500.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Sidewalks

Lot Info

  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 6499.00
  • Lot Size Acres: 0.1490

Multi Family

  • Gross Income: 8507.00
  • Gross Multiplier: 11.76
  • Gross Scheduled Income: 102084.00
  • Insurance Expense: 2760.00
  • Lot Size Area: 6499.0000 Square Feet
  • Maintenance Expense: 6000.00
  • Net Operating Income: 64748.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 8
  • Operating Expense: 36222.00
  • Other Expense: 1600.00
  • Other Expense Description: Res&Rep
  • Rent Control: No
  • Total Actual Rent: 8507.00

Tax Info

  • New Taxes Expense: 13500.00
  • Tax Lot: 15
  • Tax Tract Number: 57310
  • Tax Year: 2013

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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
05/23/2014 05/23/14 Sold $1,200,000 0.0% $170 / Sq Ft
04/01/2014 04/01/14 Pending -- -- --
03/24/2014 03/24/14 For Sale $1,200,000 -- $170 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Kevin King

    Seller's Agent in 2014

    Kevin King

    Marcus & Millichap

    (562) 257-1245

    42 Total Sales

    Kevin King
    Section Image

  • J

    Buyer's Agent in 2014

    Jeff Chonis

    Buckingham Investments, Inc.

    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW14059611

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

2375 Chestnut Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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

Nearby Homes