1940 Chestnut Avenue, Long Beach, CA 90806

Long Beach
Local realty services provided by:ERA North Orange County Real Estate
1940 Chestnut Avenue,Long Beach, CA 90806
$2,775,000
  • 14 Beds
  • 14 Baths
  • 9,437 sq. ft.
  • Multi-family
  • Active
Listed by: taylor avakian
Office: lyon stahl investment real estate, inc.310-425-9838
MLS#:26901565
Source:CRMLS

Price summary

  • Price:$2,775,000
  • Price per sq. ft.:$294.06

About this home

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 County's most durable rental submarkets. The property features a (10) 2+1 / (2) Studio / (2) 3+2 unit mix averaging 723 SF with separately metered electric - a cost-efficiency advantage in this dense urban environment. Twelve units are currently occupied and eleven of twelve occupied units are below market, with 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 $2,775,000 ($198,214/unit | $294.06/SF) with an 8.13% current cap rate, the real story is what's underneath - an 8.74% pro forma cap and $16,905 in incremental annual NOI as rents mark to market through straightforward execution with no renovation required.

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Home facts

  • Year built:1946
  • Listing ID #:26901565
  • Added:50 day(s) ago
  • Updated:November 12, 2026 at 01:08 PM

Rooms and interior

  • Bedrooms:14
  • Total bathrooms:14
  • Living area:9,437 sq. ft.

Structure and exterior

  • Year built:1946
  • Building area:9,437 sq. ft.
  • Lot area:0.19 Acres

Finances and disclosures

  • Price:$2,775,000
  • Price per sq. ft.:$294.06

Parking

  • Parking description:Driveway
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