Overview
- 14
- 0
- 9437
- 1946
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’ most durable rental submarkets. The property features a (10) 2+1 / (2) Studio / (2) 3+2 unit mix averaging 674 SF with separate utility metering – a cost-efficiency advantage in this dense urban environment. Twelve units are currently occupied and every occupied unit is below market, with in-place 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 $3,125,000 ($223,214/unit | $331.14/SF) with a 7.08% in-place cap rate, the real story is what’s underneath – a 7.62% pro forma cap and $16,904 in incremental annual NOI as two market-ready vacant units lease through straightforward execution with no renovation required.
Address
Open on Google Maps- Address Chestnut
- City Long Beach
- State/county Los Angeles
- Zip/Postal Code 90806
Details
Updated on September 22, 2026 at 10:08 pm- Property ID: HZ26901565
- Price: $3,125,000
- Property Size: 9437 Sq Ft
- Bedrooms: 14
- Bathroom: 0
- Year Built: 1946
- Property Status: Residential Income
- Listed by: Taylor Avakian
- DRE #: 02060040
- Contact Mail: taylor@lyonstahl.com
- Brokered by: Lyon Stahl Investment Real Estate, Inc.
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