Property Details
About this Property
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, currently undergoing a massive $176M reconstruction project. Excellent transit access only a few blocks to the metro blue line rail station, PCH, and the 710 freeway. Just 7 blocks North of Downtown Long Beach, with ongoing new developments of over $8 billion. Over 60% of households within 5 miles are renters with an average household income of over $94,000 (CoStar).
MLS Listing Information
MLS #
CRSB25233625
MLS Source
California Regional MLS
Interior Features
Laundry
None
Cooling
None
Exterior Features
Roof
Flat
Foundation
Raised
Parking, School, and Other Information
Garage/Parking
Garage, Garage: 5 Car(s)
HOA Fee
$0
Contact Information
Listing Agent
Anthony Walker
Buckingham Investments, Inc
License #: 01908153
Phone: (310) 982-7055
Co-Listing Agent
Josh Ess
License #: 02035659
Phone: (310) 982-7055
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 2 | – | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
1471 Chestnut is a Residential Income in Long Beach, CA 90813. This – square foot property sits on a 4,768 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $1,195,000 and was built in 1925. This address can also be written as 1471 Chestnut, Long Beach, CA 90813.
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This listing information is up-to-date as of December 15, 2025. For the most current information, please contact Anthony Walker, (310) 982-7055
