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Listed by Pat Swanson • Pat Swanson
$1,839,000
Est. payment /mo
6,500 Sqft Lot
Price Dropped by $10K
2200 Chestnut Long Beach, CA 90806
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC25078995
Year Built 1932
Lot Size 6,500 Sqft
Source California Regional MLS
Property Description
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.
Location
State CA
County Los Angeles
Area 5 - Wrigley Area
Interior
Laundry In Laundry Room, Laundry Area
Exterior
Garage Spaces 5.0
Pool None
Building
Water District - Public
Others
Special Listing Condition Not Applicable
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