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1464 Gardenia Avenue
Long Beach, CA 90813
Residential Multi Family (Apartment)
0.14 Acres
5112 Sqft Living Area
16 Bedrooms
8 Bathrooms (8 Full, 0 Half)
Year Built: 1953
$2,250,000
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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.
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Contact Details
Name: Anthony Walker
Email: Anthony.walker@buckinghaminvestments.com
MLS Listing Id: SB24077577
Agent Phone: (310) 561-4776
List Agent License: 01908153
Office Name: Buckingham Investments, Inc
Office Phone: (310) 982-7055
Office MLS Id: SB1301700
Listing Status: Active
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Copyright © 2024 OpenHous, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
