Twitter
Facebook
Email
|
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.
| DAYS ON MARKET | 23 | LAST UPDATED | 5/7/2026 |
|---|---|---|---|
| TRACT | Willmore District (WM) | YEAR BUILT | 1956 |
| COMMUNITY | 4 - Downtown Area, Alamitos Beach | COUNTY | Los Angeles |
| STATUS | Active | PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AREA | 4 - Downtown Area, Alamitos Beach |
|---|---|
| LOT | 7475 sq ft |
| LOT DIMENSIONS | 7477 |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | Willmore District (WM) |
| WATER | Public |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
| / | |
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 5/29/26 8:40 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2026.