2200 Chestnut, Long Beach, CA 90806
Active
$1,849,000
6 Units
3 Beds
2 Baths
5,504 Area(sq.ft.)
Lot: 6,500 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 2 | 1 | 1 | No | $ 1,795 | $ 3,640 | $ 2,000 |
| Unit 2 | 4 | 2 | 1 | No | $ 1,853 | $ 1,985 | $ 2,300 |
| 6 | 10 | 6 | $ 11,002 | $ 15,220 | $ 13,200 |
| MLS #: | OC25078995MR |
| Days On Market: | 5 |
| Listing Date: | April 14, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 336 |
| Price per unit: | $ 308,167 |
| Year Built: | 1932 |
Property Details
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.Interested in this Listing?
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Income Details
| Rent Control: | False |
| Total Annual Expense: | $ 39,103 |
| Net Operating Income: | $ 94,305 |
| Cap Rate: | 5.1% |
| Gross Rent Multiplier: | 13.46 |
Structure
| Community Features: | Biking, Gutters, Sidewalks, Urban |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Land Lease Type: | Fee |
Interior
| Laundry: | Laundry Area, Room |
Exterior
| Pool: | No |
Detailed Map
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Income
