33
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$2,150,000
Est. payment /mo
6,076 Sqft Lot
Active
1464 Gardenia AVE Long Beach, CA 90813
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UPDATED:
12/05/2024 05:20 AM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Poly High (Ph)
MLS Listing ID SB24234194
HOA Y/N No
Year Built 1953
Lot Size 6,076 Sqft
Property 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.
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.
Location
State CA
County Los Angeles
Area 9 - Poly High
Zoning LBR2N
Interior
Fireplace No
Laundry Inside
Exterior
Pool None
Community Features Urban
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7261017011
Energy Description 854.0
Acceptable Financing Cash to Existing Loan
Listing Terms Cash to Existing Loan
Special Listing Condition Standard
Listed by Anthony Walker • Buckingham Investments, Inc • 310-561-4776