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2619 Chestnut Ave

9 Unit Apartment Building $3,200,000 ($355,556/Unit) 5.71% Cap Rate Long Beach, CA 90806

Executive Summary

Welcome to 2619 Chestnut Avenue, an Exquisite Investment Opportunity in Long Beach’s Coveted Wrigley Neighborhood. This impeccably maintained nine-unit property, located just north of Willow Avenue, offers an unparalleled blend of elegance and sophistication. Each unit has been masterfully upgraded, boasting high-end finishes, modern fixtures, and thoughtful enhancements, all without a trace of deferred maintenance—ensuring a seamless, worry-free ownership experience. Since 2016, this premier property has undergone extensive renovations, elevating it to a true gem within the Wrigley area. Every detail, from the luxury flooring to the designer-inspired touches, reflects exceptional craftsmanship and an uncompromising standard of quality. At approximately $470 per square foot, this property represents not only tremendous value but also a rare opportunity to invest in luxury living in an unbeatable location. Beyond its immediate financial strength, 2619 Chestnut Avenue presents an exciting growth potential. With the opportunity to increase current rents and explore the addition of Accessory Dwelling Units (ADUs), this investment offers untapped possibilities for future expansion and enhanced returns. Offers are welcomed that reflect the true prestige of this remarkable asset. This is more than just a property—it’s an exceptional investment in one of Long Beach’s finest residential enclaves, combining modern luxury with long-term growth potential for the astute investor.

Property Facts

Price $3,200,000
Price Per Unit $355,556
Sale Type Investment
Cap Rate 5.71%
No. Units 9
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.15 AC
Building Size 6,372 SF
Average Occupancy 100%
No. Stories 2
Year Built/Renovated 1957/2023
Parking Ratio 0.63/1,000 SF

Site Amenities

  • Courtyard
  • Laundry Facilities
  • Storage Space
  • Bicycle Storage

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 7 - 630
2+1 1 - 900
2+2 1 - 900
Walk Score ®
Very Walkable (87)
Bike Score ®
Very Bikeable (78)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
7206-027-016
Land Assessment
$580,291
Improvements Assessment
$1,218,612
Total Assessment
$1,798,903

zoning

Zoning Code LBR1N
LBR1N
  • Listing ID: 33846673

  • Date on Market: 11/12/2024

  • Last Updated:

  • Address: 2619 Chestnut Ave, Long Beach, CA 90806

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