1070 Chestnut Long Beach, CA 90813

Located in the Willmore Historic District of Long Beach, California, 1070 Chestnut Avenue is a 12-unit multifamily property. The building consists entirely of 1-bedroom/1-bath units, providing a functional and consistent unit mix that combines original character with select interior upgrades. 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 a 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 the Housing Authority of the City of Los Angeles and the 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, including parking income from six rear parking spaces and ADU potential in the rear parking area. Situated in the 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. The property size is 6480 square feet and the lot size is approximately 0.17 acres.