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Listed by Robert Stepp, DRE #01456379 • Keller Williams Realty Downey
$ 2,800,000
Est. payment /mo
Active
1070 Chestnut Long Beach, CA 90813
7,477 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26099843
Year Built 1956
Lot Size 7,477 Sqft
Source California Regional MLS
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. T
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Laundry Community Facility
Exterior
Garage Spaces 6.0
Pool None
Building
Water District - Public
Others
Tax ID 7272006047
Special Listing Condition Not Applicable
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