17
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$1,799,000
Est. payment /mo
3 Beds
2 Baths
Price Dropped by $26K
2200 Chestnut Long Beach, CA 90806
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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
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.
Location
State CA
County Los Angeles
Zoning Assessor
Direction Google Maps
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Listed by Pat Swanson Pat Swanson