1464 Gardenia Avenue

Long Beach, CA 90813

$2,250,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $440 / sqft

1953

calendar_month Built

Property Description

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 5.8% and a GRM of 11.15 with an additional 8% in upside to a market cap rate of 6.5% and a 10.30 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

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
MLS SB24077577
List Price $2,250,000
Status Active
Type Residential Income
Subtype Apartment
Structure Size N/A
Lot Size 6,076
Year Built 1953
DOM 24

Exterior Information

Maps

Listing information courtesy of: Anthony Walker, Josh Ess, Buckingham Investments, Inc . *Based on information from the Association of REALTORS/Multiple Listing as of May 10th, 2024 at 5:01 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.