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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Ever Banuelos

Ever Banuelos

+1(323) 833-9824
$2,950,000
Est. payment /mo
14 Beds
14 Baths
9,437 SqFt
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UPDATED:

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 $312

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 County's most durable rental submarkets. The property features a (10) 2+1 / (2) Studio / (2) 3+2 unit mix averaging 723 SF with separately metered electric - a cost-efficiency advantage in this dense urban environment. Twelve units are currently occupied and eleven of twelve occupied units are below market, with 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 $2,950,000 ($210,714/unit | $312.60/SF) with a 7.57% in-place cap rate, the real story is what's underneath - an 8.15% pro forma cap and $16,905 in incremental annual NOI as rents mark to market 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

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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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Ever Banuelos
Ever Banuelos

Team Leader License ID: 01945384

+1(323) 833-9824 | ever.banuelos@gmail.com

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