
Long Beach, California 90813
Analysis of 1070 Chestnut, Long Beach, California 90813 is currently available with a list price of $2,800,000. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Long Beach Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is move-in ready.
Despite the 1956 build date, the property is well-maintained with significant recent capital improvements to major systems, including a new roof, windows, upgraded electrical, and sewer lines. The interiors and kitchens are functional and move-in ready, though they appear aesthetically dated, fitting the 5-15 year renovation window for 'Good' condition.
Each of the 12 units is assigned a separate APN, providing a rare and highly valuable opportunity for future individual condominium sales and exit strategy flexibility.
The property features a new roof, windows, upgraded electrical systems, and a Line-X sewer line replacement, significantly reducing immediate CapEx requirements for a new owner.
The asset benefits from consistent rental income via subsidized housing programs while offering immediate revenue growth through unutilized parking fees and future ADU development potential.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 6480, other record living area = 559.
The property consists entirely of one-bedroom, one-bathroom units, which may limit the tenant demographic and reduce appeal for those seeking larger multi-bedroom living spaces.
With only six parking spaces for twelve units, the 0.5:1 parking ratio may pose a challenge for tenant retention and marketability in a high-density urban area.
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.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 1.0 | 8% |
| Baths | 0.0 | 1.0 | 8% |
| Square foot | 6,480 | 969 | 92% |
| Lot Size | 7,477 | 15,026 | 23% |
| Price | $2.80M | $460.0K | 92% |
| Price per sq ft | $432 | $453 | 38% |
| Built year | 1956 | 1985 | 38% |
| HOA | $0 | $350 | 8% |
| Days on market | 30 | 206 | 8% |
May 7, 2026
$2,800,000
Initial Listing
Oct 1, 2018
$2,230,000
Public Record
Sep 24, 1998
$25,000
Public Record