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$1,195,000

  • Sold
  • Closed
  • Multi-Family
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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).

Full Property Details for 1471 Chestnut

General

  • Sold For: $1,195,000
  • Status: Closed
  • Type: Multi-Family
  • Source: MRMLS
  • MLS ID: SB25233625
  • Added to Site: 126 day(s) ago

Interior

  • Fireplace(s): None

Rooms

Other Rooms

  • Laundry: None

Additional Information

  • Pool Description: None
  • Spa Description: None

Parking

  • Garage Spaces: 5
  • Parking Features: Garage Faces Rear
  • Parking: Garage Faces Rear

Location

  • Area: 4 - Downtown Area, Alamitos Beach
  • County: Los Angeles
  • Development Name: 4 - Downtown Area, Alamitos Beach
  • Driving Directions: West side of Chestnut, South of 15th St
  • Direction Faces: East

Heating & Cooling

  • Cooling Type: None

Utilities

  • Sewer: Public Sewer
  • Water: Public
  • # Water Meters: 1
  • # Gas Meters: 5
  • # Electric Meters: 5

Structural Information

  • Foundation: Raised
  • Roof: Flat
  • Entry Location: 1
  • Stories/Levels: Two
  • Stories Description: Two
  • Square Feet: 4,276
  • Year Built: 1925

Unit Information

Unit 1

  • Number of Units: 1
  • Total Bathrooms: 2
  • Bedrooms: 2

Unit 2

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 2

Unit 3

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 2

Unit 4

  • Number of Units: 1
  • Total Bathrooms: 2
  • Bedrooms: 2

Unit 5

  • Number of Units: 1
  • Total Bathrooms: 2
  • Bedrooms: 2

Lot Features

  • Property View: None
  • Lot Size (Acres): 0.1095
  • Lot Size Source: Assessor
  • Lot Description: Rectangular Lot

Financial Considerations

  • Price Per Sq. Ft.: $279.47
  • Price Per Unit: 239000

Listed by Buckingham Investments, Inc, Anthony Walker and Buckingham Investments, Inc, Josh Ess
Sold by Buckingham Investments, Inc, Anthony Walker

Listing agents

— 1471 Chestnut —

  • Anthony Walker

    Buckingham Investments, Inc

  • Josh Ess

    Buckingham Investments, Inc

310-561-4776

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 1471 Chestnut

School District:Long Beach Unified School District
NameGradesDistance
Edison Elementary School, Long Beach, CA
625 Maine Avenue, Long Beach, CA 90802
K-50.8 mi
Washington Middle School, Long Beach, CA
1450 Cedar Avenue, Long Beach, CA 90813
6-80.1 mi
Cabrillo High School, Long Beach, CA
2001 Santa Fe Avenue, Long Beach, CA 90810
9-121.3 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 1471 Chestnut

Date
Details
Price
Change
Source
12/12/2025
Sold
$1,195,000
—
MLS
10/06/2025
Listed
$1,195,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed by Buckingham Investments, Inc, Anthony Walker and Buckingham Investments, Inc, Josh Ess
Sold by Buckingham Investments, Inc, Anthony Walker

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1471 Chestnut, Long Beach, CA 90813 (MLS# SB25233625) is a Multi-Family property that was sold at $1,195,000 on December 12, 2025. Want to learn more about 1471 Chestnut? Do you have questions about finding other Multi-Family real estate for sale in Long Beach? You can browse all Long Beach real estate or contact a Coldwell Banker agent to request more information.