2200 Chestnut Ave Long Beach, CA 90806
South Wrigley NeighborhoodEstimated payment $12,149/month
Total Views
3,036
3
Beds
2
Baths
5,504
Sq Ft
$336
Price per Sq Ft
About This Home
Beautifully restored Spanish Revival 6-unit complex in Long Beach’s 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 schools—strong cash flow and long-term upside.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1932
Lot Details
- 6,500 Sq Ft Lot
- 1 Common Wall
- Density is 6-10 Units/Acre
Parking
- 5 Car Garage
Home Design
- Apartment
Interior Spaces
- 5,504 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Additional Features
- Rain Gutters
- Urban Location
Community Details
Recreation
- Bike Trail
Building Details
- 7 Separate Electric Meters
- 7 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $300
- Gardener Expense $600
- Insurance Expense $5,504
- Trash Expense $1,500
- Water Sewer Expense $1,500
- Operating Expense $39,103
- Gross Income $135,678
- Net Operating Income $94,305
Additional Features
- 6 Units
- Laundry Facilities
Map
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/14/2025 04/14/25 | For Sale | $1,849,000 | -- | $336 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Similar Homes in Long Beach, CA
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC25078995
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