1070 Chestnut, Long Beach, CA 90813

• 1 bed |
• 1 bath

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. 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

Listing Status:

Active

Date Added:

May 7, 2026

Data Last Updated:

May 20, 2026 at 7:11AM

Listing Office:

Keller Williams Realty Downey : 562-334-1500

Listing Agent:

Robert Stepp : 310-463-2916

MLS ID:

PW26099843

Exterior

• Pool: N/K

Location

• Originating MLS: California Regional MLS
• County: Los Angeles

Lot

• Zoning: Assessor7272006047

Financial

• Source: California Regional MLS