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2383 Chestnut Avenue
Long Beach, CA 90806
Sold
2383 Chestnut Avenue
Long Beach, CA 90806
Sold
2383 Chestnut Avenue is an 8-unit multifamily investment opportunity located in Long Beach, CA. 2383 Chestnut Avenue offers a mix of studio, one, and two-bedroom units with amenities including a spacious gated front yard, a sundeck, and five garage spaces. Additionally, these garage spaces provide new ownership with a potential additional revenue stream. Long Beach’s continued strong rental metrics, including a 2022 vacancy rate of just 4 percent and year-over-year rent growth of 8.5 percent, provide a new owner with the opportunity to take advantage of the substantial demand for rental units in the area. With current rents below market rates, 2383 Chestnut Avenue represents an attractive opportunity for a new owner. 2383 Chestnut Avenue benefits from its excellent location in the South Wrigley neighborhood of Long Beach. Residents enjoy convenient access to everyday needs at Wrigley Market, an Albertsons anchored retail center located blocks from the property. Additionally, 2383 Chestnut Avenue is just over 1.75 miles from the abundance of retail, dining, and entertainment options in Downtown Long Beach. Furthermore, the property benefits from its optimal location near Willow Street (Sepulveda Boulevard), Pacific Coast Highway, and Interstates 405 and 710, providing residents easy access to employment hubs throughout Southern California. In summary, 2383 Chestnut Avenue’s fantastic location offers residents a wide variety of activities, employment, transportation, and retail amenities, all of which will attract a diverse renter pool. This overall demand for a well-located and maintained apartment building will be a key driver in the continued growth and success at 2383 Chestnut Avenue.
PROPERTY INFORMATION
| MLS # | OC23188547 | Lot Size | 6,534 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Apartment |
| Price | $ 2,100,000
Price Per SqFt: $ 381 |
DOM | 578 Days |
| Address | 2383 Chestnut Avenue | Type | Residential Income |
| City | Long Beach | Sq.Ft. | 5,519 Sq. Ft. |
| Postal Code | 90806 | Garage | 5 |
| County | Los Angeles | Year Built | 1937 |
| Bed / Bath | 3 / 0 | Parking | 5 |
| Built In | 1937 | Status | Closed |
| Sold Date | 2024-02-05 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Community |
| EntryLocation | First Floor |
| Entry Level | 1 |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $2,240
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 01/26/2024 | Pending | $2,100,000 |
| 01/04/2024 | Active Under Contract | $2,100,000 |
| 10/09/2023 | Listed | $2,100,000 |
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(844)-333-8033
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Listing provided courtesy of Tyler Leeson, Marcus & Millichap RE Invest. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
