It is not that simple. One might get by by using a hanging paragraph, here is another solution, which though has the disadvantage that one has to use \newline to force a line break
\documentclass[a4paper]{memoir}
\usepackage{calc}
\makechapterstyle{section}{%
\chapterstyle{default}
\renewcommand{\printchaptername}{}
\renewcommand{\chapternamenum}{}
\renewcommand{\chapnumfont}{\normalfont\Huge\bfseries}
\renewcommand{\printchapternum}{}%\chapnumfont \thechapter\space}
\renewcommand{\afterchapternum}{}
\renewcommand\printchaptertitle[1]{%
\begin{tabular}{@{} p{1cm} >{\raggedright\arraybackslash}p{\textwidth-1cm}}
\chapnumfont\thechapter & \chaptitlefont ##1
\end{tabular}
}
}
\chapterstyle{section}
\begin{document}
\chapter{Some very long title that hopefully span two lines}
\end{document}
Edit: Looking though the memoir sources, it turns out this is very easy, have a look at the reparticle style, so this is enough
\makeatletter
\makechapterstyle{section}{%
\chapterstyle{default}
\renewcommand{\printchaptername}{}
\renewcommand{\chapternamenum}{}
\renewcommand{\chapnumfont}{\normalfont\Huge\bfseries}
\renewcommand{\printchapternum}{}%\chapnumfont \thechapter\space}
\renewcommand{\afterchapternum}{}
\renewcommand*{\printchapternum}{%
\@hangfrom{\chapnumfont \thechapter\quad}}%
}
\makeatother