- 10 Beds
- 8 Baths
- .11 Acres
- 7 DOM
1471 Chestnut
Cheapest full sized 5 unit in the whole city at only $279/square foot. 100% 2 bedroom units: three with 2 baths, two with 1 bath. Average unit size of over 850 square feet. Skip the smaller properties and go straight to commercial positive leverage with rates in the high 5%'s and a 6.2% cap rate on actual rents. Very strong in-place income at 9.8X GRM on actuals with 13% upside to 8.7X GRM and a market cap rate of 7.4%. Electrical main panels and sub-panels replaced in 2000. 3 out of 5 units remodeled and leased in the last 2 years. 5 garages in rear for 1:1 parking ratio. Convenient location in the Washington neighborhood 1 block from Washington Middle School, currently undergoing a massive $176M reconstruction project. Excellent transit access only a few blocks to the metro blue line rail station, PCH, and the 710 freeway. Just 7 blocks North of Downtown Long Beach, with ongoing new developments of over $8 billion. Over 60% of households within 5 miles are renters with an average household income of over $94,000 (CoStar).
Essential Information
- MLS® #SB25233625
- Price$1,195,000
- Bedrooms10
- Bathrooms8.00
- Acres0.11
- Year Built1925
- TypeResidential Income
- Sub-TypeApartment
- StatusActive Under Contract
Community Information
- Address1471 Chestnut
- SubdivisionDowntown (DT)
- CityLong Beach
- CountyLos Angeles
- Zip Code90813
Area
4 - Downtown Area, Alamitos Beach
Amenities
- Parking Spaces5
- ParkingGarage Faces Rear
- # of Garages5
- GaragesGarage Faces Rear
- ViewNone
- PoolNone
Utilities
Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Interior
- CoolingNone
- FireplacesNone
- # of Stories2
- StoriesTwo
Exterior
- Lot DescriptionRectangular Lot
- RoofFlat
- FoundationRaised
Additional Information
- Date ListedSeptember 11th, 2025
- Days on Market7
Listing Details
- AgentAnthony Walker
- OfficeBuckingham Investments, Inc
Price Change History for 1471 Chestnut, Long Beach, (MLS® #SB25233625)
| Date | Details | Change |
|---|---|---|
| Status Changed from Active to Active Under Contract | – |
Anthony Walker, Buckingham Investments, Inc.
Based on information from California Regional Multiple Listing Service, Inc. as of October 13th, 2025 at 8:55pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.