1850 Gardenia Ave - Apartments FOR SALE


Long Beach, CA 90806
$3,799,000 USD
310-259-7556
1850 Gardenia Ave, Long Beach, CA for Sale
$3,799,000 USD
Apartments - FOR SALE
1/16
null | 6.21% Cap Rate

1850 Gardenia Ave
Long Beach, CA 90806


HIGHLIGHTS

  • ? Total Building Size: ±12,700 SF
  • ? Lot Size: ±12,887 SF
  • ? Unit Mix: 4 x 1BD/1BA, 13 x 2BD/1BA
  • ? On-site Parking
  • ? Well-maintained property with strong rental upside
  • Operating at a strong CAP 6.21%

OVERVIEW

Presenting a rare opportunity to acquire a well-maintained 17-unit multifamily property currently operating at a 6.21% CAP Rate and a 10.36 GRM! This two-story asset features a favorable unit mix of (4) one-bedroom/one-bath units and (13) two-bedroom/one-bath units, catering to strong rental demand in the area. Located in a quiet residential neighborhood near Signal Hill, the property offers tenants easy access to schools, parks, shopping centers, and major freeways (405, 710, and 605). With upside in rents and continued demand for quality multifamily housing in Long Beach, this property presents an excellent opportunity for investors seeking long-term growth and cash flow.

FOR SALE DETAILS

PRICE

$3,799,000 USD

PRICE/SF

$299 USD /SF

# OF UNITS

17

PRICE/UNIT

$223,471

CAP RATE

6.21%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Gardenia Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1964

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

12,898 SF

ZONING

R3S, Long Beach

APN/PARCEL ID

7216-032-020

ASK ABOUT THIS PROPERTY

Cameron SamimiLyon Stahl Investment Real EstateMore Info
310-259-7556

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Cameron SamimiLyon Stahl Investment Real EstateMore Info
310-259-7556

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.