532 Chestnut, Long Beach, California 90802, Long Beach, 90802 - 0 bed, 0 bath
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Long Beach, California 90802
Analysis of 532 Chestnut, Long Beach, California 90802 is currently available with a list price of $1,325,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. 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 moderate renovation needed.
Built in 1922, this property is well-maintained but largely reflects older renovation standards. The kitchens feature dated cabinetry and basic appliances, while the bathrooms retain vintage fixtures and tiling. While the property is functional and shows 'pride of ownership' in its courtyard and exterior, the interior systems—including wall heaters and older light fixtures—and finishes like the flooring show signs of age and lack the modern updates required for a higher rating.
The property is exempt from local Long Beach rent control and instead falls under California AB 1482 guidelines, offering investors more flexibility with annual rent increases and improved long-term yield.
The combination of five 1-bedroom units and one large 3-bedroom unit provides a diverse rental strategy that appeals to both single professionals and larger households in a high-demand market.
Situated in the West Village of Downtown Long Beach, the property boasts excellent proximity to coastal amenities, public transit, and dining, ensuring a consistent draw for urban-dwelling tenants.
Built in 1922, the property’s century-old systems may require higher-than-average capital expenditures for maintenance, repairs, or modernization of plumbing and electrical components.
While the property includes some garage space, providing adequate parking for six units in a high-density downtown area is challenging, which may limit appeal for tenants with multiple vehicles.
Located in the desirable West Village neighborhood of Downtown Long Beach, 532–534 Chestnut Avenue presents a rare opportunity to acquire a charming 6-unit multifamily property with strong rental potential. Originally built in the 1920s, the property features classic architectural character, mature landscaping, and a well-maintained courtyard setting. The unit mix includes five 1-bedroom / 1-bath units and one spacious 3-bedroom / 1-bath unit, providing a desirable combination of layouts that appeal to a wide range of renters. Each unit is equipped with a stove and refrigerator, and residents have access to a coin-operated community washer and dryer on site. The property offers garage and street parking, along with inviting outdoor areas including lush greenery, mature fruit trees, and shared courtyard spaces that enhance the residential environment. Ideally situated near Downtown Long Beach, local dining, shopping, transportation, and coastal amenities, this property offers both convenience and long-term investment appeal. Importantly, the property is not subject to local Long Beach rent control and falls under California AB 1482 (CPI + 5% annual rent increase guidelines). This property presents an excellent opportunity for investors seeking a well-located, character-rich asset in one of Long Beach’s most established neighborhoods.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 0.3 mi
Grades K-5 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 2.0 | 20% |
| Baths | 0.0 | 1.0 | 20% |
| Square foot | 4,638 | 1,260 | 80% |
| Lot Size | 7,505 | 5,274 | 60% |
| Price | $1.32M | $1.05M | 80% |
| Price per sq ft | $286 | $793 | 20% |
| Built year | 1922 | 1919 | 60% |
| HOA | $0 | $0 | 50% |
| Days on market | 41 | 157 | 40% |
Mar 12, 2026
$1,325,000
Initial Listing
Feb 9, 2005
$655,000
Public Record
Jul 17, 2003
$442,500
Public Record