Mohr Real Estate Group

Mohr Real Estate Group

1464 Gardenia Avenue Long Beach CA 90813 MLS #SB24234194

1464 Gardenia Avenue
Long Beach, CA, 90813
$2,150,000
Beds
0 Baths
SqFt
0.14 Acres
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$2,150,000
1464 Gardenia Avenue
Long Beach, CA, 90813
MLS #SB24234194 img 0

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.

Property Details

Price:
$2,150,000
MLS #:
SB24234194
Status:
Active
Baths:
0
Address:
1464 Gardenia Avenue
Type:
Residential Income
Subtype:
Apartment
Subdivision:
Poly High PH
Neighborhood:
9polyhigh
City:
Long Beach
Listed Date:
Oct 17, 2024
State:
CA
ZIP:
90813
Lot Size:
6,076 sqft / 0.14 acres (approx)
Year Built:
1953

Schools

Interior

Exterior

Community Features
Urban
Garage Spaces
0.00
Lot Features
Rectangular Lot
Parking Spots
0.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Water Source
Public

Financial

Tenant Pays
Electricity, Gas
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1464 Gardenia Avenue
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