1273 Chestnut, Long Beach, California 90813, Long Beach, 90813 - 0 bed, 0 bath
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Long Beach, California 90813
This Quadruplex Residential Income property presents a High-Potential Investment Opportunity with a List Price of $1,199,000—positioned well above the $957,374 Fair Market Value by -25%. While the property requires capital expenditure due to its Condition Rating of 5, the fully tenant-occupied status provides immediate cash flow. The asset offers significant rental upside through unit modernization in a high-demand Long Beach transit corridor. This is a strategic acquisition ideal for Buy-and-Hold Investors or Value-Add Developers seeking to optimize long-term yields.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1273 Chestnut Subject | $1,199,000* List Price | 0 | 0 | 3,042 | $315 | - |
A 1364 Cherry Sold | $970,000 | 0 | 0 | 2,544 | $381 | 0.2 mi |
B 911 E 10th Street Sold | $1,072,000 | 0 | 0 | 3,200 | $335 | 0.9 mi |
C 816 Cherry Sold | $1,175,000 | 0 | 0 | 2,600 | $452 | 0.2 mi |
D 817 E New York Sold | $1,150,000 | 0 | 0 | 3,076 | $374 | 0.8 mi |
E 1454 Magnolia Active | $1,090,000 List Price | 0 | 0 | 2,800 | $389 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1928 and marketed as a 'value-add' opportunity with 'below-market rents,' suggesting the property has not had major renovations in over 30 years. The exterior shows aged siding and windows, and the lack of interior updates mentioned indicates that kitchens, bathrooms, and systems likely require significant rehabilitation to reach market standards.
The property is fully tenant-occupied at acquisition, providing day-one income and immediate stability for any investment portfolio.
With current rents positioned below market value, there is a clear value-add opportunity to increase the capitalization rate and overall ROI as leases turn over.
Proximity to Downtown Long Beach, major freeways, and public transit ensures consistently high rental demand and low vacancy rates in a dynamic market.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3042, other record living area = 2895.
Constructed in 1928, the property may require higher-than-average maintenance costs or significant capital expenditures to modernize aging systems and structural components.
Given the quadruplex configuration on a relatively small 3,674 sqft lot, on-site parking is likely restricted, which can be a competitive disadvantage in the Long Beach rental market.
Seize this exceptional income-producing opportunity in the heart of Long Beach. This well-positioned multi-family property delivers immediate cash flow with the added advantage of significant rental upside — an investor's dream in one of Southern California's most dynamic rental markets. Fully tenant-occupied at acquisition, this property offers day-one income with room to grow. Below-market rents provide a clear path to increased returns as leases turn over, making this an ideal value-add play for both seasoned and first-time investors. Strategically located with easy access to major freeways, public transit, and the vibrant energy of Downtown Long Beach, the property benefits from consistently strong rental demand. Tenants enjoy walkable convenience to dining, shopping, entertainment, and employment centers — the kind of location that keeps units filled and turnover low.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.0 |
| Baths | 0.0 | 3.0 |
| Square foot | 3,042 | 2,100 |
| Lot Size | 3,674 | 5,077.5 |
| Price | $1.20M | $1.14M |
| Price per sq ft | $394 | $519 |
| Built year | 1928 | 1950 |
| HOA | $0 | $0 |
| Days on market | 44 | 68 |
Jun 8, 2026
$1,199,000
Initial Listing
Mar 20, 2019
$842,000
Public Record
Jan 7, 2004
$455,000
Public Record
Dec 27, 2002
$310,000
Public Record
Jun 1, 2000
$235,000
Public Record
Sep 3, 1999
$126,500
Public Record