1464 Gardenia Avenue, Long Beach, CA 90813 (MLS # SB24077577)
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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.
| DAYS ON MARKET | 14 | LAST UPDATED | 4/30/2024 |
|---|---|---|---|
| TRACT | Poly High (PH) | YEAR BUILT | 1953 |
| COMMUNITY | Poly High | COUNTY | Los Angeles |
| STATUS | Conditional | PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AREA | Poly High |
|---|---|
| BUYER'S BROKERAGE COMPENSATION | 2.500 % |
| LOT | 6076 sq ft |
| LOT DESCRIPTION | 6-10 Units/Acre |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | Poly High (PH) |
| WATER | Public |
| ZONING | LBR2N |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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