1464 Gardenia Avenue

Long Beach, CA 90813

$2,150,000
Price
16
Beds
8
Baths
5,112 Sq. Ft.
$421 / Sq. Ft.
5,112
Sq. Ft.
$421
per Sq. Ft.

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...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.
  1. Listed by Anthony Walker • DRE #01908153 • Brokerage DRE #01914434 • Buckingham Investments, Inc • 310-561-4776
  2. Listed by Josh Ess • DRE #02035659 • Brokerage DRE #01914434 • Buckingham Investments, Inc

Property Details for 1464 Gardenia Avenue

Parking Spaces Total
0
Private Pool
No
Total Units
8.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
5112
Assessor Parcel Number
7261-017-011
Property Attached YN
true
LISTING UPDATED: 11/14/2024 06:46 AM

Property Details for 1464 Gardenia Avenue

StatusActive
MLS #SB24234194
Days on Market3
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Apartment
Year Built1953
CountyLos Angeles County

Building Information for 1464 Gardenia Avenue

Building/Complex1464 Gardenia AveFloor-Stories2Residences-Pet Policy-Year Built1953Building Size-

Property Information for 1464 Gardenia Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $202,560
  • Gross Scheduled Income: $200,460
  • Net Operating Income: $132,842
  • Other Income Description: Storage
  • Other Income 1: $2,100
  • Gross Multiplier: 10.6
  • Cap Rate: 6.2
Expense Details
  • Operating Expense: $59,695
  • Fuel Expense: $854
  • Electric Expense: $854
  • Insurance Expense: $8,946
  • Professional Management Expense: $9,627
  • Trash Expense: $428
  • Water Sewer Expense: $428
  • Total Expenses: $59,695
Tax / Assessment Info
  • Tax Tract Number: 5752
  • Tax Census Tract: 5752.02
  • Tax Lot: 2
Community / Development
Community / Development
  • Community Features: Urban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Inside
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: Rectangular Lot
  • Number Of Units: 8
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Poly High
  • Builders Tract Code: Poly High (PH)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,295
  • Unit Type Total Rent: $2,295
  • Unit Type Pro Forma: 2395
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,095
  • Unit Type Total Rent: $2,095
  • Unit Type Pro Forma: 2250
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,215
  • Unit Type Total Rent: $2,215
  • Unit Type Pro Forma: 2250
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,395
  • Unit Type Total Rent: $2,395
  • Unit Type Pro Forma: 2395
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,220
  • Unit Type Total Rent: $2,220
  • Unit Type Pro Forma: 2250
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,995
  • Unit Type Total Rent: $1,995
  • Unit Type Pro Forma: 2250
  • Unit Type Type: 6
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,695
  • Unit Type Total Rent: $1,695
  • Unit Type Pro Forma: 1795
  • Unit Type Type: 7
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,795
  • Unit Type Total Rent: $1,795
  • Unit Type Pro Forma: 1795
  • Unit Type Type: 8
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1

Property History for 1464 Gardenia Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1464 Gardenia Avenue

Taxable ValueLand$1,040,400Additions$624,240Total$1,664,640
Tax Record2024$22,060 ($1,838 / month)
Home Facts
Total Finished SqFt3,352 SqFtAbove Grade Finished SqFt3,352 SqFtLot Size6,076 SqFtStyleMulti-Family Res (5+ Units)Year Built1953ZoningLBR2NCountyLOS ANGELESAPN7261-017-011

Schools near 1464 Gardenia Avenue

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Whittier Elementary School
Public - K to 5
Franklin Classical Middle School
Public - 6 to 8
Polytechnic High School
Public - 9 to 12
Clear Passage Educational Center
Charter - 9 to 12
Rating
School
Distance
Whittier Elementary School
PublicK to 5

Franklin Classical Middle School
Public6 to 8

Polytechnic High School
Public9 to 12

Clear Passage Educational Center
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 1464 Gardenia Avenue, Long Beach, CA 90813

1464 Gardenia Avenue is a multi-family home for sale in Long Beach, CA 90813. This property was listed for sale on October 17, 2024 by Buckingham Investments, Inc, it's currently listed at $2,150,000. It has been on the market for a total of 3 days and was last sold on March 22, 2022. This listing's school district is Long Beach Unified School District. Nearby schools include Whittier Elementary School, Franklin Classical Middle School and Polytechnic High School. 1464 Gardenia Avenue is a 16-bed, 8-bath, 5,112 sqft multi-family home built in 1953.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Buckingham Investments, Inc, Anthony Walker, DRE #01908153; Buckingham Investments, Inc, Josh Ess, DRE #02035659

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.