$2,250,000 - 1464 Gardenia Avenue, Long Beach
- 15Beds
- 8Baths
- 0SQ. Feet
- 0.14Acres
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.
Sales Agent
Sam SmithBeach Cities Real EstatePhone: 562-355-8228 Cell: 562-355-8228 Contact Agent NowEssential Information
- MLS® #:SB24077577
- Price:$2,250,000
- Bedrooms:15
- Bathrooms:8.00
- Acres:0.14
- Year Built:1953
- Type:Residential Income
- Sub-Type:Apartment
- Status:Active Under Contract
- Listing Agent:Anthony Walker
- Listing Office:Buckingham Investments, Inc
Community Information
- Address:1464 Gardenia Avenue
- Area:9 - Poly High
- Subdivision:Poly High (PH)
- City:Long Beach
- County:Los Angeles
- Zip Code:90813
Amenities
- Parking Spaces:3
- Pool:None
Interior
- # of Stories:2
- Stories:Two
Exterior
- Lot Description:6-10 Units/Acre
Additional Information
- Date Listed:April 18th, 2024
- Days on Market:20
- Zoning:LBR2N
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Based on information from California Regional Multiple Listing Service, Inc. as of May 8th, 2024 at 3:30pm CDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.