714-745-2708

1940 Chestnut Avenue, Long Beach, CA 90806

$2,775,000 Approx. USD 14 beds, 14 baths
9,437 sqft

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Marketed By The Keaty Team

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Marketed By The Keaty Team REALTOR® - Sales Associate 714-608-3298 m
714-745-2708 o
Lic#: 01276603
NRDS ID: 187514104
thekeatyteam@bhhscal.com Tustin Office
18302 Irvine Blvd, Suite 240
Tustin, CA 92780
Phone: 714-832-8800
Fax: 949-565-7700

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Listing Agent

Taylor Avakian | taylor@lyonstahl.com
Lic#: 02060040
Broker: Courtesy of Lyon Stahl Investment Real Estate, Inc.
Phone: 916-996-4421

Agent Remarks

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.

Listing Details

Property type: (Multi-Family)

Status: Active

MLS# 26901565

List price is $2,775,000 Reduced by $175,000 on 11/2/2026

Price: $2,775,000

Beds: 14

Baths: 14

Built in 1946

9,437 sqft

0.19 acres

Lot size: 0.1870

County: Los Angeles

Zoning: LBR2N

Parking description: Driveway

Heating/cooling: None

Heating description: None

MLS area: 5 - Wrigley Area

Last Updated: 11/5/2026

Days On Market (DOM): 83

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This listing belongs to the 5 - Wrigley Area MLS area

Lat/Long: 33.792509, -118.196016.
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