Lynsey Russell
Keller Williams Pacific Estate
(424) 349-4623
122 Total Sales
2 in South Wrigley
$675K - $850K Price Range
2383 Chestnut Ave Long Beach, CA 90806
South Wrigley Neighborhood
3
Beds
3
Baths
5,519
Sq Ft
6,534
Sq Ft Lot
Highlights
- Lawn
- Laundry Facilities
- Level Lot
About This Home
As of February 20242383 Chestnut Avenue is an 8-unit multifamily investment opportunity located in Long Beach, CA. 2383 Chestnut Avenue offers a mix of studio, one, and two-bedroom units with amenities including a spacious gated front yard, a sundeck, and five garage spaces. Additionally, these garage spaces provide new ownership with a potential additional revenue stream. Long Beach’s continued strong rental metrics, including a 2022 vacancy rate of just 4 percent and year-over-year rent growth of 8.5 percent, provide a new owner with the opportunity to take advantage of the substantial demand for rental units in the area. With current rents below market rates, 2383 Chestnut Avenue represents an attractive opportunity for a new owner. 2383 Chestnut Avenue benefits from its excellent location in the South Wrigley neighborhood of Long Beach. Residents enjoy convenient access to everyday needs at Wrigley Market, an Albertsons anchored retail center located blocks from the property. Additionally, 2383 Chestnut Avenue is just over 1.75 miles from the abundance of retail, dining, and entertainment options in Downtown Long Beach. Furthermore, the property benefits from its optimal location near Willow Street (Sepulveda Boulevard), Pacific Coast Highway, and Interstates 405 and 710, providing residents easy access to employment hubs throughout Southern California. In summary, 2383 Chestnut Avenue’s fantastic location offers residents a wide variety of activities, employment, transportation, and retail amenities, all of which will attract a diverse renter pool. This overall demand for a well-located and maintained apartment building will be a key driver in the continued growth and success at 2383 Chestnut Avenue.
Last Agent to Sell the Property
Marcus & Millichap RE Invest License #01451551 Listed on: 10/09/2023
Last Buyer's Agent
Gus Sverkos
Keller Williams Coastal Prop. License #02121918
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Property Details
Home Type
- Apartment
Year Built
- Built in 1937
Lot Details
- 6,534 Sq Ft Lot
- No Common Walls
- Level Lot
- Lawn
Parking
- 5 Car Garage
Home Design
- Entry on the 1st floor
Interior Spaces
- 5,519 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 3 Bedrooms
- 3 Bathrooms
Listing and Financial Details
- Legal Lot and Block 14 / 2
- Tax Tract Number 573
- Assessor Parcel Number 7205014016
- $1,453 per year additional tax assessments
Community Details
Overview
- 8 Units
- Wrigley Area Subdivision
Amenities
- Laundry Facilities
Building Details
- 8 Leased Units
- Rent Control
- 8 Separate Electric Meters
- 8 Separate Gas Meters
- Electric Expense $549
- Fuel Expense $549
- Insurance Expense $6,000
- Maintenance Expense $6,000
- Other Expense $6,253
- Professional Management Expense $8,117
- Trash Expense $549
- Water Sewer Expense $548
- New Taxes Expense $24,971
- Operating Expense $53,536
- Gross Income $167,324
- Net Operating Income $108,813
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
Listed on
Oct 9, 2023
Closed on
Jan 30, 2024
Sold by
Bought by
Seller's Agent
Tyler Leeson
Marcus & Millichap RE Invest
Buyer's Agent
Gus Sverkos
Keller Williams Coastal Prop.
List Price
$2,100,000
Sold Price
$2,020,000
Premium/Discount to List
-$80,000
-3.81%
Views
33
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,110,000
Outstanding Balance
$1,079,207
Interest Rate
6.61%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jan 31, 2018
Sold by
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
$900,000
Interest Rate
3.99%
Mortgage Type
Future Advance Clause Open End Mortgage
Purchase Details
Closed on
Jan 25, 2018
Sold by
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
$900,000
Interest Rate
3.99%
Mortgage Type
Future Advance Clause Open End Mortgage
Purchase Details
Closed on
Nov 21, 2017
Sold by
Bought by
Purchase Details
Listed on
Nov 14, 2011
Closed on
May 16, 2012
Sold by
Bought by
Seller's Agent
Jeff Knowles
Douglas Elliman of California
Buyer's Agent
Jeff Knowles
Douglas Elliman of California
List Price
$720,000
Sold Price
$710,000
Premium/Discount to List
-$10,000
-1.39%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$492,360
Interest Rate
3.85%
Mortgage Type
Future Advance Clause Open End Mortgage
Purchase Details
Closed on
Jul 26, 2002
Sold by
Bought by
Purchase Details
Closed on
May 9, 2002
Sold by
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
$337,500
Interest Rate
5.5%
Mortgage Type
Commercial
Purchase Details
Closed on
Oct 12, 2001
Sold by
Bought by
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
47 Total Sales
1 in South Wrigley
$769,000 Price
-
Josh Stein-Sapir
Josh Stein-Sapir
Keyes Real Estate
(562) 456-3475
135 Total Sales
1 in South Wrigley
$865,000 Price
-
Shannon Daniele
Shannon Daniele
HomeSmart Realty Group
(562) 352-1142
33 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 |
|---|---|---|---|
| $960,000 | Commonwealth Land Title | ||
| -- | Fidelity National Title | ||
| -- | Fidelity National Title | ||
| -- | None Available | ||
| $700,000 | Lawyers Title | ||
| -- | South Coast Title Company | ||
| $450,000 | South Coast Title Company | ||
| -- | South Coast Title Company |
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 | $1,110,000 | ||
| Previous Owner | $1,110,000 | ||
| Previous Owner | $900,000 | ||
| Previous Owner | $900,000 | ||
| Previous Owner | $492,360 | ||
| Previous Owner | $337,500 | ||
| Previous Owner | $817,000 |
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 | Prior Sale |
|---|---|---|---|---|---|
| 02/05/2024 02/05/24 | Sold | $2,020,000 | -3.8% | $366 / Sq Ft | |
| 01/03/2024 01/03/24 | Pending | -- | -- | -- | |
| 10/09/2023 10/09/23 | For Sale | $2,100,000 | +195.8% | $381 / Sq Ft | |
| 05/17/2012 05/17/12 | Sold | $710,000 | -1.4% | $128 / Sq Ft | View Prior Sale |
| 04/17/2012 04/17/12 | Pending | -- | -- | -- | |
| 11/14/2011 11/14/11 | For Sale | $720,000 | -- | $130 / 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 |
|---|---|---|---|---|
| 2025 | $27,794 | $2,060,400 | $816,000 | $1,244,400 |
| 2024 | $12,248 | $861,988 | $307,851 | $554,137 |
| 2023 | $12,030 | $845,087 | $301,815 | $543,272 |
| 2022 | $11,317 | $828,518 | $295,898 | $532,620 |
| 2021 | $11,055 | $812,274 | $290,097 | $522,177 |
| 2019 | $10,897 | $789,164 | $281,494 | $507,670 |
| 2018 | $10,571 | $773,710 | $275,975 | $497,735 |
| 2017 | $10,458 | $757,579 | $270,564 | $487,015 |
| 2016 | $9,718 | $742,725 | $265,259 | $477,466 |
| 2015 | $9,345 | $731,570 | $261,275 | $470,295 |
| 2014 | $9,316 | $717,240 | $256,157 | $461,083 |
Source: Public Records
Agents Affiliated with this Home
-
Tyler Leeson
Seller's Agent in 2024
Tyler Leeson
Marcus & Millichap RE Invest
(949) 419-3200
1 in this area
172 Total Sales
-
G
Buyer's Agent in 2024
Gus Sverkos
Keller Williams Coastal Prop.
-
J
Seller's Agent in 2012
Jeff Knowles
Douglas Elliman of California
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC23188547
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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