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$ 3,200,000
Est. payment /mo
New
1070 Chestnut AVE Long Beach, CA 90813
12 Beds
12 Baths
6,571 SqFt
UPDATED:
02/05/2025 05:39 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,571 sqft
Price per Sqft $486
MLS Listing ID 25494519
Bedrooms 12
HOA Y/N No
Year Built 1956
Lot Size 7,474 Sqft
Property Description
We are pleased to offer 1070 Chestnut Avenue, a 12-unit condo tract map building located in the heart of the Willmore neighborhood, just north of Downtown Long Beach. This two-story, secured and gated property offers a strong unit mix, comprised of (12) one-bedroom, one-bathroom condominium units each with individual parcel numbers allowing for flexibility to sell units separately. Built in 1956, the property boasts 6,571 rentable square feet on a 7,477 square-foot lot including six (6) parking spaces in the back with tandem parking potential and on-site laundry facility, ensuring tenant convenience. Recent upgrades include a brand-new pitched roof, new sewer lining with Line-X, and new windows, enhancing the property's appeal and efficiency. Each unit is equipped with its own water heater and is separately metered for gas and electricity, reducing operational costs. The tenant profile at 1070 Chestnut Avenue further strengthens the property's stability, with a majority participating in subsidized programs (HACLA or HACLB), ensuring smooth and reliable rent collection. Low operating expenses combined with pride of ownership make this a well-maintained and efficient asset. Whether you choose to hold it as a stabilized investment or sell the condominiums individually, this asset presents a unique opportunity to acquire a well position property in one of Long Beach most densely populated areas with significant long-term growth.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBPD10
Interior
Heating Wall Furnace
Fireplace No
Exterior
Parking Features Private
Total Parking Spaces 6
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7272006036
Special Listing Condition Standard
Listed by Kamfar Kyle Mirrafati • Matthews Real Estate Investment Services