About this home

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.

Facts and features

Schools

• Washington Middle School

  middle · 6-8 · 0.3 mi

  4

• International Elementary School

  elementary · K-5 · 0.4 mi

  5

• Cabrillo High School

  high · 9-12 · 1.5 mi

  3

• First Baptist Church School

  elementary · K-12 · 0.2 mi

• Regency High School

  middle · 8-12 · 0.2 mi

• Renaissance High School For The Arts

  high · 9-12 · 0.4 mi

  8

Price history

• May 7, 2026 · Listed$2,800,000
• Sep 17, 2022 · Listing Removed—
• May 13, 2022 · Listed$3,500,000
• Oct 1, 2018 · Sold$2,230,000
• Jun 23, 1998 · Sold$28,000
• Jan 3, 1983 · Sold$25,000

Tax history

• 2025$2,859 tax · $211,059 assessed
• 2024$2,735 tax · $206,922 assessed
• 2023$2,687 tax · $198,889 assessed
• 2022$2,523 tax · $194,991 assessed
• 2021$2,471 tax · $191,169 assessed
• 2020$2,465 tax · $189,210 assessed
• 2019$2,435 tax · $185,500 assessed
• 2018$653 tax · $39,274 assessed

Where it is