1464 Gardenia Avenue
Long Beach,
CA
90813
Property Details
List Price: |
$2,250,000 |
Beds: |
15 |
Baths: |
8 |
Status: |
Active |
SqFt: |
5112 |
Agency: |
Buckingham Investments, Inc. |
Description/Comments
Lot Size: |
6,076 sqft |
Property Type: |
MultiFamily |
Year Built: |
1953 |
Notes: |
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. |
MlsNumber: |
SB24077577 |
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Listing Provided By: |
Buckingham Investments, Inc., original listing |
Name: |
Buckingham Investments, Inc. |
Phone: |
(562) 208-4890 |
Office Name: |
Buckingham Investments, Inc |
Office Phone: |
(310) 982-7055 |
Agent Name: |
Anthony Walker |
Disclaimer: |
Copyright © 2024 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. |