Two-Story Walk-Up Multifamily
444 Chestnut Avenue, Long Beach, CA 90802
For Sale
$3,697,000
19-unit walk-up multifamily with remodeled interiors and onsite basement laundry blocks from Downtown Long Beach.
Property Size11,928 SF
Price / SF$309.94
Days on Market336
Property Features for 444 Chestnut Avenue
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Cap Rate
Multifamily Units
Building Details
Year Built
Year Renovated
Stories
Tenancy
Listing Agency:
The Agency
Listed By:
Jonathan Swire · License CA #01336277
(310) 948-2631
Source:
Sevengables
Added: Dec 13, 2025
Changed: Nov 12
Last Checked: Nov 12 at 8:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Agency
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-story, walk-up multifamily property offers 19 residential units with a unit mix of studios, one-bedroom, and two-bedroom homes. The seller reports that all units were completely redone in 2018–2019, including interior hallway renovations. Additional capital improvements cited in the remarks include a new water heater in 2023 and replacement of over 100 feet of sewer line. Onsite laundry is available in the basement, and the building is master-metered for utilities.
The property is located in the Historic District and is described as being blocks from Downtown Long Beach, including the area around Pine Avenue with bars and restaurants. The building has no onsite parking; however, parking structures within blocks are described as available for tenant rental.
For tenants and operators, the combination of updated unit interiors, professionally managed ownership, and on-site laundry supports a straightforward residential experience. The current unit count and studio-to-two-bedroom mix can provide flexibility for leasing, while the master-metered setup may be a consideration for buyers evaluating utility management. The listing notes that qualified buyers may request additional information, including a rent roll.
The property is located in the Historic District and is described as being blocks from Downtown Long Beach, including the area around Pine Avenue with bars and restaurants. The building has no onsite parking; however, parking structures within blocks are described as available for tenant rental.
For tenants and operators, the combination of updated unit interiors, professionally managed ownership, and on-site laundry supports a straightforward residential experience. The current unit count and studio-to-two-bedroom mix can provide flexibility for leasing, while the master-metered setup may be a consideration for buyers evaluating utility management. The listing notes that qualified buyers may request additional information, including a rent roll.
Key Highlights
- 19‑unit two‑story walk‑up multifamily (built 1927) blocks from Downtown Long Beach on Pine Ave with a Walk Score of 95
- Unit mix includes studio, 1- and 2‑bedroom apartments; interiors, plus interior hallways, completely redone in 2018/2019
- Over $400K spent on CAP EX; new water heater installed in 2023 and over 100 ft of sewer line replaced
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$228,105
Cap Rate
6.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,562,100
$4.6M
Cap Rate 7%
$3,258,643
$3.3M
Cap Rate 9%
$2,534,500
$2.5M
Market Conditions
NOI Build-Up for 11,928 SF
Gross rent
$436.6K $36.60/SF
− Vacancy
−$21.8K −$1.83/SF
EGI
$414.7K $34.77/SF
− OpEx
−$186.6K −$15.65/SF
NOI
$228.1K $19.12/SF
Area
Long Beach, CA
Vacancy
5.00%
Lease Rate
$36.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,562,100
Cap Rate 7%
$3,258,643
Cap Rate 9%
$2,534,500
Alternative Uses
Best Use
Apartment 5plus
$3.26M
$2.85M – $3.80M
NOI $228,105 @ 7.0% cap · market cap 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.39M
$5.59M – $7.45M
NOI $447,034 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
19
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,886
Businesses Nearby
Explore this area
Business Placement
Demographics for 90802, CA
41,686
Population
25,055
Households
1.7
Avg Household Size
37
Median Age
44%
College-Educated
88%
High-School Grad
6.5 sq mi
ZIP Area
6,413
Density / Sq Mi
$72,152
Median Household Income
$52,011
Median Earnings
$1,855
Median Rent
$546,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Apartment buildings in Long Beach, CA
Properties on Market for Apartment buildings in Long Beach
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - 19-unit walk-up multifamily with remodeled interiors and onsite basement laundry blocks from Downtown Long Beach.
Where is this apartment building located?
The property is located at 444 Chestnut Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $3,697,000.
What are key features of this property?
This property features: 19‑unit two‑story walk‑up multifamily (built 1927) blocks from Downtown Long Beach on Pine Ave with a Walk Score of 95; Unit mix includes studio, 1- and 2‑bedroom apartments; interiors, plus interior hallways, completely redone in 2018/2019; Over $400K spent on CAP EX; new water heater installed in 2023 and over 100 ft of sewer line replaced
