1471 Chestnut, Long Beach, CA 90813

• 4,276 sqft

Property Description

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).

Listing Status:

Pending

Date Added:

October 6, 2025 at 05:00AM

Listing Office:

Buckingham Investments, Inc : 310-982-7055

Listing Agent:

Anthony Walker : 310-982-7055

MLS ID:

CRSB25233625

Interior

• Laundry: No Hookups
• A/C: None

Exterior

• Parking: Garage Faces Rear

Location

• HOA Amenities: 0.0
• County: Los Angeles

Lot

• Zoning: 7269040030
• View: None

This listing courtesy of Anthony Walker, Buckingham Investments, Inc