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- Listed price
- $2,950,000
- Listed Aug 20, 2026 · $313/sq ft
- Last sold price
- No recorded sale
14 beds|14 ba|9,437 sqft|8,147 sqft lot|1946 Built|57 days listed
1940 Chestnut Ave, Long Beach, CA 90806
Property Description
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 County's most durable rental submarkets. The property features a (10) 2+1 / (2) Studio / (2) 3+2 unit mix averaging 723 SF with separately metered electric - a cost-efficiency advantage in this dense urban environment. Twelve units are currently occupied and eleven of twelve occupied units are below market, with 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 $2,950,000 ($210,714/unit | $312.60/SF) with a 7.57% in-place cap rate, the real story is what's underneath - an 8.15% pro forma cap and $16,905 in incremental annual NOI as rents mark to market through straightforward execution with no renovation required.
Listing agent: Taylor AvakianDRE #02060040taylor@lyonstahl.com, Listing office: Lyon Stahl Investment Real Estate, Inc.
MLS data updated 10/16/2026, 6:38:18 PM PT
Source: CRMLSMLS #: 26901565
Belmont insights
Price & property history
Compare recorded home prices, same-type ZIP sales and mortgage rates.
Latest asking price$2,950,000
Oct 16, 2026
Available records22026
From MLS recordsActual listing and closing events
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This home · nearest recorded event
$2,950,000Asking price recorded · Oct 16, 2026ZIP 90806 · Oct 2026
No monthly averageAt least 3 eligible sales in this month are required.30-year fixed mortgage benchmark
No weekly rateNo published rate within 7 days of this date.This home · 2 price recordsAug 20, 2026 – Oct 16, 2026
ZIP 90806 · same property typeThis MLS property type has no exact comparison group.
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Recorded sales in this period (0)
No recorded sales in this range. Select All available for older records; missing records do not mean the home never sold.
ZIP averages use publicly displayable closed sales from our licensed MLS feed, matched to the same ZIP and exact property type. Months with fewer than 3 sales are omitted; the current month is incomplete. Lines connect available monthly observations across gaps and do not represent measured prices in missing months. These averages are not adjusted for size, condition, or location within the ZIP, and are not an appraisal. Feed coverage may not include every sale. All available shows the available home and ZIP history, with mortgage rates over the same dates.
Mortgage benchmark: Freddie Mac Primary Mortgage Market Survey®. © Freddie Mac. Weekly national 30-year fixed rates, not APRs or a loan quote. Actual terms vary. Methodology changed in November 2022. The chart does not establish that interest-rate changes caused a home’s price changes.
Lines connect recorded asking and sale prices. They are visual guides, not estimates of the home’s value between those dates.
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