1070 Chestnut, Long Beach, CA 90813
Local realty services provided by:Better Homes and Gardens Real Estate Everything Real Estate
1070 Chestnut,Long Beach, CA 90813
$2,800,000
- - Beds
- - Baths
- 6,480 sq. ft.
- Condominium
- Active
Listed by: robert stepp
Office: keller williams realty downey562-334-1500
MLS#:PW26099843
Source:CRMLS
Price summary
- Price:$2,800,000
- Price per sq. ft.:$432.1
About this home
1070 Chestnut Avenue is a 12-unit multifamily asset located in the Long Beach, California within the Willmore Historic District submarket. The property consists entirely of 1 bedroom / 1 bath units, offering a functional and consistent unit mix with a combination of original character and select interior upgrades. Condo Conversion Optionality: Each unit has a separate APN, creating the potential for future individual condominium sales. The property has benefited from several recent capital improvements, reducing near-term maintenance exposure and enhancing operational stability. These include: New roof, windows, and upgraded electrical system, Line-X sewer line replacement, Recently installed individual water heaters, and Upgraded wall-mounted furnaces in select units. Each unit is individually metered for gas and electricity and features its own water heater, supporting efficient utility management and expense control. The asset produces stable, reliable cash flow, with a majority of tenants participating in subsidized housing programs through Housing Authority of the City of Los Angeles and Housing Authority of the City of Long Beach. This structure provides consistent rental income and mitigates vacancy risk. Additional income is generated through on-site laundry facilities. The property also offers multiple avenues for further revenue growth: Parking Income: Six (6) rear parking spaces present an immediate opportunity to implement parking fees with no additional capital investment, ADU Potential: The rear parking area may support future ADU development, and allowing for increased density and rental income. Situated in Willmore Historic District, the property benefits from convenient access to major transportation corridors, including the nearby 710 Freeway, providing connectivity to employment centers throughout Long Beach and greater Los Angeles....
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Home facts
- Year built:1956
- Listing ID #:PW26099843
- Added:1 day(s) ago
- Updated:May 09, 2026 at 01:23 PM
Rooms and interior
- Living area:6,480 sq. ft.
Structure and exterior
- Year built:1956
- Building area:6,480 sq. ft.
- Lot area:0.17 Acres
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$2,800,000
- Price per sq. ft.:$432.1
Features and amenities
- Laundry features:Common Area
Parking
- Total parking spaces:6
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