1640 Gundry Avenue, Long Beach, CA 90813

About this fourplex

Ideal investment property. Current cap rate of 5.75%. High cash flow and easy to manage. Four large 3 bedroom / one bath units. All rented at $2100 per month (last rent increase was December 2019), each unit with own single car garage, water heater and pays own utilities. Each unit has two separate entrances. Kitchen has room for dining table and chairs. New garage doors and stamped concrete backyard for easy, low cost maintenance. Landlord only pays for water/sewer. Very large units over 1,000 sf each. All new floors, and updated bathrooms and kitchens. Take advantage of low interest rates as this fourplex qualifies for residential 30 year financing. Can have additional income from renting out the garages. Two ADU's may be added for additional income opportunity (buyer to confirm). Full rent collection throughout pandemic. Proforma rent in the $2250 to $2350 range plus potential income from garage rental and additional ADUs. Buyer to verify all information, not limited to unit counts and unit size and total sf. Interior viewing subject to accepted offer.

Listing description from the May 2021 sale, as reported to CRMLS.

Sale history

$1,396,000

Sold May 2021 · listed $1,395,000, on market April 2021 · MLS #PV21068504 · Source: CRMLS

Listing Agent: Monica Masuda · Listing Office: Monica Masuda, Realtor · Contact: 310-739-6599 · Bought with: Samir Rai · Keystone Realty Group

$740,000

Sold January 2015 · listed $789,000, on market August 2014 · MLS #OC14183763 · Source: CRMLS

Listing Agent: Brad Clark · Listing Office: Prestige Realty · Contact: 949-933-1518 · Bought with: Maurice Assayag · RE/MAX Estate Properties

$604,000

Sold November 2013 · listed $598,000, on market July 2013 · MLS #PW13139135 · Source: CRMLS

Listing Agent: Shelly Smith · Listing Office: Keller Williams RCHO · Contact: 909-945-5406 · Bought with: Shelly Smith · Keller Williams RCHO

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