1464 Gardenia Avenue, Long Beach, CA 90813
-
Listed Price :
$2,150,000
-
Beds :
N/A
-
Baths :
N/A
-
Property Size :
N/A sqft
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Year Built :
1953
Property Description
Significant Price reduction!!! Totally remodeled, turnkey 8-unit (6+2 brand new ADU's) property in a high demand rental area of Long Beach. Great unit mix with one 3 bed/1 bath unit, five 2 bed/1 bath units, and two brand new 1 bed/1 bath detached ADU's. High yield, low expense property at an in-place cap rate of 6.2% and a GRM of 10.61 with an additional 4% in upside to a market cap rate of 6.6% and a 10.13 GRM. Extensively renovated property including exterior refresh, new windows, main electrical panel, controlled access, low-water landscaping, common areas, and lighting. 5 out of 6
existing units upgraded with new vinyl flooring, new kitchens, bathrooms, paint, and lighting. Two brand new 1 bed/1 bath ADUs just completed at
the rear of the property separated by a new turf courtyard. ADUs include mini-split AC units, in-unit laundry hookups, open concept kitchen/living
areas, stainless steel appliances, high grade cabinets, quartz countertops, and full-sized bathrooms. Parking for 3-4 cars in the rear of the property.
Interior Features
| Laundry Information |
| Location(s) |
Inside |
| Bedroom Information |
| Bedrooms |
N/A |
| Bathroom Information |
| Bathrooms |
N/A |
Listing Information
| Address |
1464 Gardenia Avenue |
| City |
Long Beach |
| State |
CA |
| Zip |
90813 |
| County |
Los Angeles |
| Listing Agent |
Anthony Walker DRE #01908153 |
| Co-Listing Agent |
Josh Ess DRE #02035659 |
| Courtesy Of |
Buckingham Investments, Inc |
| List Price |
$2,150,000 |
| Status |
Active |
| Type |
Residential Income |
| Subtype |
Apartment |
| Structure Size |
N/A |
| Lot Size |
6,076 |
| Year Built |
1953 |
Listing information courtesy of: Anthony Walker, Josh Ess, Buckingham Investments, Inc. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 14th, 2024 at 10:47 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.
