1070 Chestnut Avenue,Long Beach, CA 90813
Long Beach, CA 90813
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.
Details
| MLS # | 25494519 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1956 |
| Days On Site | 163 |
| Listing Provided By | Matthews Real Estate Investment Services 866-889-0550 | Kamfar Kyle Mirrafati |
Features
| Bed(s) | 12 |
|---|---|
| Bath(s) | 12 |
| SQ Feet | 6,571 |
| Story(s) | 2 |
| Units | 12 |
| Building(s) | 1 |
| Zoning | LBPD10 |
| Acreage | 0.17 |
Market Activity 90813
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90813 |
| Area | 4 Downtown Area | Alamitos Beach |
| Listing VS Median (in 90813) | |
Price: $3,200,000 low | high Med: $950,000 SqFt: 6,571 low | high Med: 2,194 $ / SqFt: $487 low | high Med: $433 On site: 163 low | high Med: 113.000000 | |
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