1070 Chestnut Ave Long Beach, CA 90813
Willmore NeighborhoodEstimated payment $15,391/month
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.
Listing Agent
Keller Williams Realty Downey Brokerage Phone: 310-463-2916 License #01456379 Listed on: 05/07/2026
Property Details
Home Type
- Condominium
Year Built
- Built in 1956
Lot Details
- Two or More Common Walls
- 7272006046,72720060475,7272006044,7272006043,7272006042,7272006041,7272006040,7272006039,7272006038,7272006037,7272006036
Home Design
- Entry on the 1st floor
Interior Spaces
- 6,480 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 1 Bedroom
- 1 Bathroom
Parking
- 6 Open Parking Spaces
- 6 Parking Spaces
Location
- Urban Location
Listing and Financial Details
- Legal Lot and Block 8 / 8
- Tax Tract Number 3017
- Assessor Parcel Number 7272006047
- $233 per year additional tax assessments
Community Details
Overview
- 12 Units
- Willmore District Subdivision
Amenities
- Laundry Facilities
Building Details
- Rent Control
- 12 Separate Electric Meters
- 12 Separate Gas Meters
- 12 Separate Water Meters
- Electric Expense $2,640
- Fuel Expense $2,640
- Gardener Expense $1,200
- Insurance Expense $10,000
- Maintenance Expense $7,800
- Other Expense $3,000
- Pest Control $1,215
- Professional Management Expense $12,532
- Trash Expense $2,640
- Water Sewer Expense $2,640
- New Taxes Expense $38,035
- Operating Expense $85,341
- Gross Income $250,632
- Net Operating Income $165,291
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $2,859 | $206,922 | $89,238 | $117,684 |
| 2024 | $2,735 | $202,866 | $87,489 | $115,377 |
| 2023 | $2,687 | $198,889 | $85,774 | $113,115 |
| 2022 | $2,524 | $194,991 | $84,093 | $110,898 |
| 2021 | $2,471 | $191,169 | $82,445 | $108,724 |
| 2019 | $2,436 | $185,500 | $80,000 | $105,500 |
| 2018 | $987 | $66,884 | $17,139 | $49,745 |
| 2017 | $977 | $65,573 | $16,803 | $48,770 |
| 2016 | $911 | $64,288 | $16,474 | $47,814 |
| 2015 | $878 | $63,323 | $16,227 | $47,096 |
| 2014 | $879 | $62,084 | $15,910 | $46,174 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 05/07/2026 05/07/26 | For Sale | $2,800,000 | -- | $432 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $2,230,000 | California Title | |
| Interfamily Deed Transfer | -- | First American Title Company | |
| Interfamily Deed Transfer | -- | First American Title Company | |
| Interfamily Deed Transfer | -- | First American Title Co | |
| Grant Deed | $28,000 | First American |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $1,030,000 | Purchase Money Mortgage | |
| Previous Owner | $2,300,000 | New Conventional | |
| Previous Owner | $26,600 | No Value Available |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW26099843
APN: 7272-006-047
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
- 1040 Cedar Ave
- 1217 Cedar Ave
- 1021 Pacific Ave
- 1140 Pacific Ave Unit 20
- 1238 Magnolia Ave
- 1030 Daisy Ave
- 1146 Daisy Ave
- 833 Cedar Ave
- 628 W 10th St
- 1025 Locust Ave
- 328 W 8th St
- 800 Pacific Ave Unit 305
- 1029 Maine Ave
- 1119 N Loma Vista Dr
- 801 Pine Ave
- 801 Pine Ave Unit 104
- 728 Cedar Ave Unit 29
- 838 Pine Ave Unit 506
- 838 Pine Ave Unit 102
- 1148 Locust Ave
- 1048 Cedar Ave
- 1050 Cedar Ave
- 1040 Cedar Ave Unit 8
- 1154 Cedar Ave
- 1146-1152 Magnolia Ave
- 936 Cedar Ave Unit 9
- 1029 Magnolia Ave
- 1208 Daisy Ave Unit 9
- 551 W 10th St Unit 9
- 826 Magnolia Ave Unit 3
- 116-122 W 9th St
- 115 E 12th St Unit 2
- 815 Pacific Ave Unit 11
- 344-346 W 8th St Unit 344
- 1424 Chestnut Ave Unit 16
- 1112 Locust Ave
- 975 N Park Cir Unit A
- 975 N Park Cir Unit B
- 973 N Park Cir Unit 5
- 973 N Park Cir Unit 6
Ask me questions while you tour the home.