First Team Real Estate Logo

Long Beach, CA 90813 1464 Gardenia Avenue

$2,250,000

1464 Gardenia Avenue Long Beach, Ca - Image 11464 Gardenia Avenue Long Beach, Ca - Image 21464 Gardenia Avenue Long Beach, Ca - Image 3
28 more
1464 Gardenia Avenue Long Beach, Ca - Image 41464 Gardenia Avenue Long Beach, Ca - Image 51464 Gardenia Avenue Long Beach, Ca - Image 61464 Gardenia Avenue Long Beach, Ca - Image 71464 Gardenia Avenue Long Beach, Ca - Image 81464 Gardenia Avenue Long Beach, Ca - Image 91464 Gardenia Avenue Long Beach, Ca - Image 101464 Gardenia Avenue Long Beach, Ca - Image 111464 Gardenia Avenue Long Beach, Ca - Image 121464 Gardenia Avenue Long Beach, Ca - Image 131464 Gardenia Avenue Long Beach, Ca - Image 141464 Gardenia Avenue Long Beach, Ca - Image 151464 Gardenia Avenue Long Beach, Ca - Image 161464 Gardenia Avenue Long Beach, Ca - Image 171464 Gardenia Avenue Long Beach, Ca - Image 181464 Gardenia Avenue Long Beach, Ca - Image 191464 Gardenia Avenue Long Beach, Ca - Image 201464 Gardenia Avenue Long Beach, Ca - Image 211464 Gardenia Avenue Long Beach, Ca - Image 221464 Gardenia Avenue Long Beach, Ca - Image 231464 Gardenia Avenue Long Beach, Ca - Image 241464 Gardenia Avenue Long Beach, Ca - Image 251464 Gardenia Avenue Long Beach, Ca - Image 261464 Gardenia Avenue Long Beach, Ca - Image 271464 Gardenia Avenue Long Beach, Ca - Image 281464 Gardenia Avenue Long Beach, Ca - Image 291464 Gardenia Avenue Long Beach, Ca - Image 301464 Gardenia Avenue Long Beach, Ca - Image 311464 Gardenia Avenue Long Beach, Ca - Image 32
Presented By: Anthony Walker with Buckingham Investments, Inc; 310-561-4776
  • MLS# SB24077577
  • 04/18/2024
  • Request Tour
  • Request Info
  • BedBeds • 3
  • BathBaths • 1
  • FootageSQFT • 5,112

Home Details

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.
Presented By: Anthony Walker with Buckingham Investments, Inc; 310-561-4776

Interior Features for 1464 Gardenia 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 FeaturesInside
Street SuffixAvenue
Total Stories2

Other Rooms

Entry Level1

General for 1464 Gardenia Avenue

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.8
Carport Y/NNo
CityLong Beach
Community FeaturesUrban
CountyLos Angeles
Days on Market12
DirectionsEast side of Gardenia, off of Cherry.
Electric Expense570.25
Entry LocationLevel 1
Fuel Expense570.25
Garage Spaces0.0
Garage Y/NNo
Gross Income201804.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense8946.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashtoNewLoan, Conventional
Lot Size Square Feet6076.0
MLS Area9 - Poly High
MaintenanceExpense9586.0
MobileHomeRemainsYNNo
Net Operating Income131229.0
New ConstructionNo
Open Parking Spaces3.0
Operating Expense60484.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActiveUnderContract
StatusActiveUnderContract
Stories2
Street NameGardenia
Subdivision NamePoly High (PH)
Tax Lot2
Taxes$28,125
Total Units8
Trash Expense570.25
View Y/NNo
Water Sewer Expense570.25
Waterfront Y/NNo
Year Built1953
Year Built SourceAssessor
ZoningLBR2N

Exterior for 1464 Gardenia Avenue

Building Area Total5112.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem610UnitsAcre
Lot Size Acres0.1395
Lot Size Area6076.0
Lot Size SourceBuilder
Lot Size UnitsSquareFeet
Number of Buildings2
Number of Separate Electric Meters8
Number of Separate Gas Meters8
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking3.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $2,250,000
MLS#SB24077577
List Date 04/18/2024
Property Type Multi-Family
Phone 714.964.3311
Request Tour
Request Info
Visit My Website

Similar Properties to 1464 Gardenia Avenue

Ask A Question

CRMLS Compliance Statements & Disclaimers

*According to the National Association of Realtors