Two-Story Walk-Up Multifamily
444 Chestnut Avenue Long Beach, CA 90802
444 Chestnut Avenue, Long Beach, CA, 90802
$3,697,000
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 Market149
Property Features for 444 Chestnut Avenue
General Information
- Standard status
- Active
- Size
- 11,928 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1927
Listing agency
The Agency
Listed by
Jonathan Swire
(714) 497-3550
Source
Sevengables
Added: Feb 22 Updated: Jul 10 at 1:49PM Checked: Jul 19 at 6:39AM
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
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
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $436.6k | $36.60 |
| − Vacancy | −$21.8k | −$1.83 |
| EGI | $414.7k | $34.77 |
| − OpEx | −$186.6k | −$15.65 |
| NOI | $228.1k | $19.12 |
11,928 SF · lease $36.60/SF/yr · vacancy 5.00% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
A Pinch of Salt Catering
Take-out & Catering
Similar For Sale Nearby
FAQs
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
