1070 Chestnut, Long Beach, CA 90813
1070 Chestnut, Long Beach, CA 90813
1070 Chestnut, Long Beach, CA 90813
1070 Chestnut, Long Beach, CA 90813
1070 Chestnut, Long Beach, CA 90813
1070 Chestnut, Long Beach, CA 90813
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Sam Mu

Sam Mu

+1(949) 258-2228
$ 2,800,000
Est. payment | /mo

7,474 Sqft Lot

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$ 2,800,000
Est. payment | /mo
Save

7,474 Sqft Lot

Key Details

Property Type Single Family Home, Condo

Sub Type Condominium

Listing Status Active

Purchase Type For Sale

Subdivision Willmore District (Wm)

MLS Listing ID PW26099843

HOA Y/N No

Year Built 1956

Lot Size 7,474 Sqft

Property Sub-Type Condominium

Property Description

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.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Interior

Fireplace No

Laundry Common Area

Exterior

Pool None

Community Features Urban

Total Parking Spaces 6

Private Pool No

Building

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7272006047

Energy Description 2640.0

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Robert Stepp Keller Williams Realty Downey 310-463-2916, DRE #01456379

Nearby Locations

Sam Mu

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+1(949) 258-2228

sammuteam@gmail.com

880 Roosevelt Suite 250, Irvine, California, 92620, United States

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1070 Chestnut