1464 Gardenia Avenue
Long Beach, CA 90813
0.14 acres | #SB24234194
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.
Property Details
- Lot DescriptionRectangularLot
- Stories2
Measurements
- Acres0.1395
Construction Details
- Property TypeMulti-Family
Condition
- Year Built1953
Utilities / Energy Details
- Sewer InformationPublicSewer
- Utility SourcePublic
Community and Neighborhood Details
- SubdivisionPoly High (PH)
Location
- CountyLos Angeles
Financial Details
- Original List Price$2,150,000
Other
- MLS #SB24234194
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Anthony Walker (#sbwalkant)
Listing Office: Buckingham Investments, Inc (#SB1301700)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
