1940 Chestnut Ave, Long Beach, CA 90806
1940 Chestnut Ave, Long Beach, CA 90806
1940 Chestnut Ave, Long Beach, CA 90806
1940 Chestnut Ave, Long Beach, CA 90806
1940 Chestnut Ave, Long Beach, CA 90806
1940 Chestnut Ave, Long Beach, CA 90806
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Shantrece's Assistant

Shantrece's Assistant

+1(904) 846-3855
$ 3,125,000
Est. payment | /mo

14 Beds

14 Baths

9,437 SqFt

Save
$ 3,125,000
Est. payment | /mo
Save

14 Beds

14 Baths

9,437 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 9,437 sqft

Price per Sqft $331

MLS Listing ID 26901565

Bedrooms 14

Year Built 1946

Lot Size 8,147 Sqft

Acres 0.187

Property Sub-Type Multi-Family

Property Description

1940 Chestnut Ave | 14-Unit Stabilized Multifamily in Long Beach. 1946-built asset totaling 9,437 SF on an 8,152 SF lot in an established residential corridor one block from major employment and transit corridors in one of Los Angeles' most durable rental submarkets. The property features a (10) 2+1 / (2) Studio / (2) 3+2 unit mix averaging 674 SF with separate utility metering - a cost-efficiency advantage in this dense urban environment. Twelve units are currently occupied and every occupied unit is below market, with in-place rents averaging $1,899.64/month against market rents of $2,003.57, and two units positioned to lease at market rate with zero capital expenditure. Offered at $3,125,000 ($223,214/unit | $331.14/SF) with a 7.08% in-place cap rate, the real story is what's underneath - a 7.62% pro forma cap and $16,904 in incremental annual NOI as two market-ready vacant units lease through straightforward execution with no renovation required.

Location

State CA

County Los Angeles

Area Wrigley

Zoning LBR2N

Rooms

Other Rooms None

Interior

Heating None

Cooling None

Equipment None

Exterior

Parking Features Driveway

Garage Spaces 14.0

Building

Level or Stories Multi/Split

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Lyon Stahl Investment Real Estate, Inc.

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1940 Chestnut Ave