1464 Gardenia Avenue
Long Beach, CA 90813
Active for $2,150,000
Beds: N/A Baths: N/A Structure Size: N/A sqft Lot Size: 6,076 sqft
| MLS | SB24234194 |
| Year Built | 1953 |
| Property Type | Apartment |
| County | Los Angeles |
| Status | Active |
| Active | $2,150,000 |
| Structure Size | N/A sqft |
| Lot Size | 6,076 sqft |
| Beds | N/A |
| Baths | N/A |
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.
Listing information courtesy of: Anthony Walker, Buckingham Investments, Inc 310 982-7055. *Based on information from the Association of REALTORS/Multiple Listing as of 11/23/2024 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.
Location
Contact a Local Realtor®
Gagik Guy Atakhanian
REALTOR®
Direct: 818.277.6735
Email: Email Me
DRE: 01908198
DRE #01873088
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