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Listed by: Anthony Walker (310) 982-7055 DRE #01908153, Josh Ess DRE #02035659 | Buckingham Investments, Inc (310) 982-7055
$1,195,000
10 Beds
8 Baths
--sqft
1471 Chestnut, Long Beach, CA 90813
$1,195,000
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Apartment
Built in 1925
$-- HOA
4,768 sqft lot
--/sqft
Description
Cheapest full sized 5 unit in the whole city at only $279/square foot. 100% 2 bedroom units: three with 2 baths, two with 1 bath. Average unit size of over 850 square feet. Skip the smaller properties and go straight to commercial positive leverage with rates in the high 5%'s and a 6.2% cap rate on actual rents. Very strong in-place income at 9.8X GRM on actuals with 13% upside to 8.7X GRM and a market cap rate of 7.4%. Electrical main panels and sub-panels replaced in 2000. 3 out of 5 units remodeled and leased in the last 2 years. 5 garages in rear for 1:1 parking ratio.
Convenient location in the Washington neighborhood 1 block from Washington Middle School...
- Houzeo last checked: 11 Minutes ago
- Listing updated: December 4, 2025 at 11:17 pm
- Source: California Regional MLS-CA | MLS#: SB25233625
Property Details
Status
Pending
Type
Multi Family
No. of Stories
2
County
City
Neighborhood
--
Year Built
1925
HOA Fees
-
Finished Area
- sqft
Lot Size
4,768 sqft lot
Basement Area
- sqft
MLS Name
California Regional MLS
MLS Number
SB25233625
MLS Status
Pending
Days on Market
60
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Houzeo Corp. holds real estate brokerage licenses in Alabama (License No. 000157023 - 0) and Texas (License No. 9013396)
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