2383 Chestnut Avenue
Long Beach, CA 90806
- – beds
- – baths
- – sqft
- 6,534 sqft lot
- 1937 build
- – on site
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2383 Chestnut Avenue is an 8-unit multifamily investment opportunity located in Long Beach, CA. 2383 Chestnut Avenue offers a mix of studio, one, and two-bedroom units with amenities including a spacious gated front yard, a sundeck, and five garage spaces. Additionally, these garage spaces provide new ownership with a potential additional revenue stream. Long Beach’s continued strong rental metrics, including a 2022 vacancy rate of just 4 percent and year-over-year rent growth of 8.5 percent, provide a new owner with the opportunity to take advantage of the substantial demand for rental units in the area. With current rents below market rates, 2383 Chestnut Avenue represents an attractive opportunity for a new owner. 2383 Chestnut Avenue benefits from its excellent location in the South Wrigley neighborhood of Long Beach. Residents enjoy convenient access to everyday needs at Wrigley Market, an Albertsons anchored retail center located blocks from the property. Additionally, 2383 Chestnut Avenue is just over 1.75 miles from the abundance of retail, dining, and entertainment options in Downtown Long Beach. Furthermore, the property benefits from its optimal location near Willow Street (Sepulveda Boulevard), Pacific Coast Highway, and Interstates 405 and 710, providing residents easy access to employment hubs throughout Southern California. In summary, 2383 Chestnut Avenue’s fantastic location offers residents a wide variety of activities, employment, transportation, and retail amenities, all of which will attract a diverse renter pool. This overall demand for a well-located and maintained apartment building will be a key driver in the continued growth and success at 2383 Chestnut Avenue.
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Last updated Feb 5, 2024
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MLS# OC23188547 —
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
2/5/24
Feb 5, 2024
|
Sold | CRMLS_CA | $2,020,000 | -3.8% |
|
1/26/24
Jan 26, 2024
|
Pending | CRMLS_CA | $2,100,000 | |
|
1/4/24
Jan 4, 2024
|
Sold Subject To Contingencies | CRMLS_CA | $2,100,000 |