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Long Beach, CA 90813 1050 Gaviota Avenue

$4,675,000

1050 Gaviota Avenue Long Beach, Ca - Image 11050 Gaviota Avenue Long Beach, Ca - Image 21050 Gaviota Avenue Long Beach, Ca - Image 3
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Presented By: Robert Stepp with Keller Williams - Santa Monica; 310-463-2916
  • MLS# PW23229192
  • 12/22/2023
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  • BedBeds • 35
  • BathBaths • 5
  • FootageSQFT • 12,928
  • GarageGarage • 8

Home Details

1050 Gaviota Avenue is a 14-unit asset, located in the in Long Beach, California. Built in 1963, the property is comprised of (1) 4BD/1BA, (3) 3BD/1BA + Den, (4) 3BD/1BA, (4) 2BD/1BA, and (2) 1BD/1BA units. Spread across a 12,474-square foot lot, the property has eight (8) garages and a laundry room on site providing additional income. The garages also offer the opportunity for ADU conversion. Priced at a 5.65% cap rate & 11.95 GRM, on actual rents, new ownership can stabilize the asset at a 6.07% cap rate and 11.34 GRM.
Presented By: Robert Stepp with Keller Williams - Santa Monica; 310-463-2916

Interior Features for 1050 Gaviota Avenue

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesLaundryRoom
Street SuffixAvenue
Total Stories2

Other Rooms

Entry Level1

General for 1050 Gaviota Avenue

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.65
Carport Y/NNo
CityLong Beach
Community FeaturesSidewalks
CountyLos Angeles
Days on Market116
DirectionsCherry Ave
Electric Expense3487.3
Entry Location1
Fuel Expense3487.3
Garage Spaces8.0
Garage Y/NYes
Gross Income379418.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense8950.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsCash, CashtoNewLoan, Item1031Exchange
Lot Size Square Feet12474.0
MLS Area4 - Downtown Area, Alamitos Beach
MaintenanceExpense9800.0
MobileHomeRemainsYNNo
Net Operating Income263923.0
New ConstructionNo
Operating Expense115496.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalMixedUse
Property SubTypeMixedUse
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Street NameGaviota
Subdivision NameAlamitos Beach (AB)
Tax Lot89
Taxes$58,133
Total Units14
Trash Expense3487.3
View Y/NNo
Water Sewer Expense3487.3
Waterfront Y/NNo
Year Built1963
Year Built SourceAssessor
ZoningLBR2N

Exterior for 1050 Gaviota Avenue

Building Area Total12928.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem1115UnitsAcre
Lot Size Acres0.2864
Lot Size Area12474.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings1
Number of Separate Electric Meters14
Number of Separate Gas Meters14
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking8.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $4,675,000
MLS#PW23229192
List Date 12/22/2023
Property Type Multi-Family
Phone 714.964.3311
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CRMLS Compliance Statements & Disclaimers

*According to the National Association of Realtors