Seller's Agent in 2024
Michael Hickman
Seven Gables Real Estate
(714) 731-5983
1 in this area
36 Total Sales
321 Chestnut Ave Long Beach, CA 90802
West Village Neighborhood
1
Bed
7
Baths
4,262
Sq Ft
2,780
Sq Ft Lot
About This Home
As of May 2024Welcome to this charming 7-unit apartment building nestled in the heart of downtown Long Beach! Built in 1922, this classic architectural gem offers a unique value-add investment opportunity for those looking to reimagine its potential. With a total of 7 units spread across 4,262 square feet, this property presents a mix of 6 cozy studio units and one spacious 1-bedroom, 1-bathroom unit.
Each studio unit offers a comfortable living space, ideal for urban dwellers seeking simplicity and convenience. The one 1-bedroom unit provides a touch of luxury with additional space and privacy, perfect for a small family or a couple looking for a little extra room.
This historic building exudes character with its timeless architecture, showcasing the charm of a bygone era. From the elegant facade to the intricate detailing, this property captures the essence of classic Long Beach architecture. While the building retains its historic charm, it is in need of updating and renovation, offering a blank canvas for investors to create a modern oasis in a prime downtown location.
Situated in downtown Long Beach, residents will enjoy easy access to a vibrant array of dining, entertainment, and cultural attractions. With its proximity to public transportation, major highways, and bustling city life, this property offers an unbeatable location for urban living.
This is a rare value-add deal, providing investors the opportunity to increase the property's value through renovation, repositioning, and rental optimization. Don't miss out on the chance to own a piece of Long Beach history and transform it into a lucrative investment. Embrace the potential of this 7-unit apartment building and make your mark on downtown Long Beach living!
Last Agent to Sell the Property
Seven Gables Real Estate License #01410360 Listed on: 04/25/2024
Last Buyer's Agent
General NONMEMBER
NONMEMBER MRML
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1922
Lot Details
- 2,780 Sq Ft Lot
- Two or More Common Walls
- Density is 6-10 Units/Acre
Home Design
- Property Attached
- Entry on the 1st floor
Interior Spaces
- 4,262 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 1 Bedroom
- 7 Bathrooms
Additional Features
- Suburban Location
- Sewer Paid
Listing and Financial Details
- Tenant pays for electricity
- Legal Lot and Block 31 / 84
- Assessor Parcel Number 7280013030
Community Details
Overview
- No Home Owners Association
- 7 Units
- Downtown Subdivision
Building Details
- Rent Control
- 7 Separate Electric Meters
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Electric Expense $220
- Insurance Expense $3,894
- Other Expense $10,693
- Pest Control $1,020
- New Taxes Expense $11,875
- Operating Expense $28,505
- Gross Income $57,120
- Net Operating Income $28,615
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
Apr 25, 2024
Closed on
May 22, 2024
Sold by
Bought by
Seller's Agent
Michael Hickman
Seven Gables Real Estate
Buyer's Agent
General NONMEMBER
NONMEMBER MRML
List Price
$949,000
Sold Price
$951,000
Premium/Discount to List
$2,000
0.21%
Views
45
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Home Values in the Area
Average Home Value in this Area
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 |
|---|---|---|---|
| $951,000 | Chicago Title Company |
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 |
|---|---|---|---|---|
| 05/29/2024 05/29/24 | Sold | $951,000 | +0.2% | $223 / Sq Ft |
| 05/06/2024 05/06/24 | Pending | -- | -- | -- |
| 04/25/2024 04/25/24 | For Sale | $949,000 | -- | $223 / 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 | $13,649 | $970,020 | $510,000 | $460,020 |
| 2024 | $2,819 | $126,998 | $64,887 | $62,111 |
| 2023 | $2,755 | $124,509 | $63,615 | $60,894 |
| 2022 | $2,615 | $122,068 | $62,368 | $59,700 |
| 2021 | $2,519 | $119,676 | $61,146 | $58,530 |
| 2019 | $2,482 | $116,769 | $59,334 | $57,435 |
| 2018 | $2,399 | $114,493 | $58,171 | $56,322 |
| 2016 | $2,201 | $109,434 | $55,913 | $53,521 |
| 2015 | $2,136 | $107,792 | $55,074 | $52,718 |
| 2014 | $2,163 | $105,682 | $53,996 | $51,686 |
Source: Public Records
Agents Affiliated with this Home
-
Michael Hickman
-
Jerry Jervis
Seller Co-Listing Agent in 2024
Jerry Jervis
Seven Gables Real Estate
(714) 944-9840
2 in this area
38 Total Sales
-
G
Buyer's Agent in 2024
General NONMEMBER
NONMEMBER MRML
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW24082445
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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