1464 Gardenia Avenue, Long Beach, CA 90813
Property · 2 recorded sales since 2022
Sold March 2025
Listing Agent: Anthony Walker (DRE #01908153) · Listing Office: Buckingham Investments, Inc · Contact: 310-561-4776 · Bought with: Anthony Walker · Buckingham Investments, Inc · MLS #SB24234194 · Source: CRMLS
About this property
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 description from the March 2025 sale, as reported to CRMLS.
Sale history
