About 1940 Chestnut Avenue
1940 Chestnut Ave | 14-Unit Stabilized Multifamily in Long Beach. 1946-built asset totaling 9,437 SF on an 8,152 SF lot in an established residential corridor one block from major employment and transit corridors in one of Los Angeles' most durable rental submarkets. The property features a (10) 2+1 / (2) Studio / (2) 3+2 unit mix averaging 674 SF with separate utility metering - a cost-efficiency advantage in this dense urban environment. Twelve units are currently occupied and every occupied unit is below market, with in-place rents averaging $1,899.64/month against market rents of $2,003.57, and two units positioned to lease at market rate with zero capital expenditure. Offered at $3,125,000 ($223,214/unit | $331.14/SF) with a 7.08% in-place cap rate, the real story is what's underneath - a 7.62% pro forma cap and $16,904 in incremental annual NOI as two market-ready vacant units lease through straightforward execution with no renovation required.
Features of 1940 Chestnut Avenue
| MLS® # | 26901565 |
|---|---|
| Price | $3,125,000 |
| Bedrooms | 5 |
| Bathrooms | 4.00 |
| Square Footage | 9,437 |
| Acres | 0.19 |
| Year Built | 1946 |
| Type | Residential Income |
| Status | Active |
Community Information
| Address | 1940 Chestnut Avenue |
|---|---|
| Area | 5 - Wrigley Area |
| City | Long Beach |
| County | Los Angeles |
| Zip Code | 90806 |
Amenities
| Parking Spaces | 14 |
|---|---|
| Parking | Driveway |
| Garages | Driveway |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | None |
|---|---|
| Cooling | None |
| Has Basement | No |
| Fireplace | No |
| Stories | Multi/Split |
Additional Information
| Date Listed | August 20th, 2026 |
|---|---|
| Days on Market | 43 |
| Zoning | LBR2N |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Taylor Avakian |
|---|---|
| Office | Lyon Stahl Investment Real Estate, Inc. |