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1471 Chestnut, Long Beach, CA 90813

Local realty services provided by:CENTURY 21 Allstars
1471 Chestnut,Long Beach, CA 90813
$1,195,000
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Sold
Listed by: anthony walker, josh ess
Office: buckingham investments, inc
MLS#:SB25233625
Source:CRMLS

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Price summary

  • Price:$1,195,000

About this home

Cheapest full sized 5 unit in the whole city at only $279/square foot. 100% 2 bedroom units: three with 2 baths, two with 1 bath. Average unit size of over 850 square feet. Skip the smaller properties and go straight to commercial positive leverage with rates in the high 5%'s and a 6.2% cap rate on actual rents. Very strong in-place income at 9.8X GRM on actuals with 13% upside to 8.7X GRM and a market cap rate of 7.4%. Electrical main panels and sub-panels replaced in 2000. 3 out of 5 units remodeled and leased in the last 2 years. 5 garages in rear for 1:1 parking ratio. Convenient location in the Washington neighborhood 1 block from Washington Middle School, currently undergoing a massive $176M reconstruction project. Excellent transit access only a few blocks to the metro blue line rail station, PCH, and the 710 freeway. Just 7 blocks North of Downtown Long Beach, with ongoing new developments of over $8 billion. Over 60% of households within 5 miles are renters

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Home facts

  • Year built:1925
  • Listing ID #:SB25233625
  • Added:73 day(s) ago
  • Updated:December 19, 2025 at 07:50 AM

Structure and exterior

  • Roof:Flat
  • Year built:1925

Utilities

  • Water:Public, Water Connected
  • Sewer:Public Sewer, Sewer Connected

Finances and disclosures

  • Price:$1,195,000
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