$2,150,000
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1464 Gardenia Avenue Long Beach, CA 90813
Apartment
Residence
Beds
Baths
5,112
Sq. Ft.
0.14
Acre
Lot
Property Activity
Time on Site
days
Days on Market
Views
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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-pl...ace 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.
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MLS#
SB24234194
Property Type
Apartment
Status
Year Built
1953
Square Feet
5,112
sq. ft
Lot Size
0.14
Stories
2.0
Sewer
Public Sewer
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