About 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).
Features of 1471 Chestnut
| MLS® # | SB25233625 |
|---|---|
| Price | $1,195,000 |
| Sold Price | $1,195,000 |
| Bedrooms | 10 |
| Bathrooms | 8.00 |
| Lot Sqft | 4,768 |
| Acres | 0.11 |
| Year Built | 1925 |
| Type | Residential Income |
| Sub-Type | Apartment |
| Status | Closed |
| # Of Units | 5 |
Community Information
| Address | 1471 Chestnut |
|---|---|
| Area | 4 - Downtown Area, Alamitos Beach |
| Subdivision | Downtown (DT) |
| City | Long Beach |
| County | Los Angeles |
| Zip Code | 90813 |
Amenities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Parking Spaces | 5 |
| Parking | Garage Faces Rear |
| # of Garages | 5 |
| Garages | Garage Faces Rear |
| View | None |
| Is Waterfront | No |
| Has Pool | No |
| Pool | None |
Interior
| Cooling | None |
|---|---|
| Has Basement | No |
| Fireplace | No |
| Fireplaces | None |
| # of Stories | 2 |
| Stories | Two |
Exterior
| Lot Description | Rectangular Lot |
|---|---|
| Roof | Flat |
| Foundation | Raised |
Additional Information
| Date Listed | September 11th, 2025 |
|---|---|
| Date Sold | December 12th, 2025 |
| Days on Market | 7 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Anthony Walker |
|---|---|
| Office | Buckingham Investments, Inc |