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$ 1,799,000
Est. payment /mo
Price Dropped by $26K
2200 Chestnut Long Beach, CA 90806
3 Beds
2 Baths
6,500 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC25078995
Bedrooms 3
HOA Y/N No
Lot Size 6,500 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Beautifully restored Spanish Revival 6-unit complex in Long Beachs historic South Wrigley neighborhood. Features (4) large 2-bed/1-bath and (2) 1-bed/1-bath units totaling 5,504 SF. Upgrades include new electrical panels, copper plumbing, on-site laundry, and garages. Assumable financing at 3.20% fixed through May 2026, then 4.20% until Nov 2026, 5.20% until May 2027, and 6.20% until Nov 2027. Current 5.10% cap rate with upside to 6.67% pro forma. Additional income could be achieved through RUBS, pet rent, parking, and potential ADU development where existing garages are located. Excellent location near Downtown, transit, and schoolsstrong cash flow and long-term upside.
Beautifully restored Spanish Revival 6-unit complex in Long Beachs historic South Wrigley neighborhood. Features (4) large 2-bed/1-bath and (2) 1-bed/1-bath units totaling 5,504 SF. Upgrades include new electrical panels, copper plumbing, on-site laundry, and garages. Assumable financing at 3.20% fixed through May 2026, then 4.20% until Nov 2026, 5.20% until May 2027, and 6.20% until Nov 2027. Current 5.10% cap rate with upside to 6.67% pro forma. Additional income could be achieved through RUBS, pet rent, parking, and potential ADU development where existing garages are located. Excellent location near Downtown, transit, and schoolsstrong cash flow and long-term upside.
Beautifully restored Spanish Revival 6-unit complex in Long Beachs historic South Wrigley neighborhood. Features (4) large 2-bed/1-bath and (2) 1-bed/1-bath units totaling 5,504 SF. Upgrades include new electrical panels, copper plumbing, on-site laundry, and garages. Assumable financing at 3.20% fixed through May 2026, then 4.20% until Nov 2026, 5.20% until May 2027, and 6.20% until Nov 2027. Current 5.10% cap rate with upside to 6.67% pro forma. Additional income could be achieved through RUBS, pet rent, parking, and potential ADU development where existing garages are located. Excellent location near Downtown, transit, and schoolsstrong cash flow and long-term upside.
Location
State CA
County Los Angeles
Area Long Beach (90806)
Zoning Assessor
Building
Lot Description Sidewalks
Story 2
Lot Size Range 4000-7499 SF
Others
Space Rent $1,795
Listed by Pat Swanson • Pat Swanson