2619 Chestnut Ave
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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 | Building Class | C |
Price Per Unit | $355,556 | Lot Size | 0.15 AC |
Sale Type | Investment | Building Size | 6,372 SF |
Cap Rate | 5.71% | Average Occupancy | 100% |
No. Units | 9 | No. Stories | 2 |
Property Type | Multifamily | Year Built/Renovated | 1957/2023 |
Property Subtype | Apartment | Parking Ratio | 0.63/1,000 SF |
Apartment Style | Low Rise |
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 |
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Walk Score ®
Very Walkable (87)
Bike Score ®
Very Bikeable (78)
PROPERTY TAXES
Parcel Number | 7206-027-016 | Improvements Assessment | $1,218,612 |
Land Assessment | $580,291 | Total Assessment | $1,798,903 |
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 |
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2619 Chestnut Ave
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