361 Gladys Ave - Multi-Family FOR SALE


Long Beach, CA 90814- Belmont Heights
$1,430,000 USD
424-405-3826
361 Gladys Ave, Long Beach, CA for Sale
$1,430,000 USD
Multi-Family - FOR SALE
1/14
null | 3.89% Cap Rate

361 Gladys Ave
Long Beach, CA 90814
Belmont Heights


HIGHLIGHTS

  • Charming Craftsman property consisting of a stunning two-bedroom home and a duplex with one-bedroom units in Long Beach’s coveted Bluff Heights
  • Ideal owner-user opportunity: remodeled front home will be delivered vacant
  • Period-correct duplex matches all the charm of the front home
  • Front home boasts a backyard, new central air, a new water heater, remodeled kitchen & baths, refinished hardwood floors, updated electric & plumbing
  • Property also offers driveway parking, a storage space/garage with laundry hookups, and an additional rear garage space with ample storage
  • One of the one-bedrooms will be delivered vacant as well

OVERVIEW

Marcus & Millichap is pleased to present to market 361 Gladys Avenue, a charming three-unit property nestled in Long Beach’s sought-after Bluff Heights neighborhood. The front residence is a beautifully updated two-bedroom Craftsman home that will be delivered vacant at close of escrow, making this an ideal acquisition opportunity for an owner-occupant seeking both immediate move-in convenience and supplemental rental income from the rear units. The front home blends timeless architectural details with thoughtful modern upgrades, including new central air and heating, a new water heater, remodeled kitchen and bathrooms, refinished hardwood floors, updated electrical, and copper plumbing. A quaint private backyard creates a welcoming retreat for outdoor dining or relaxation. Behind the main house, a period-correct duplex mirrors the charm of the front residence and offers two one-bedroom units with Craftsman details such as built-ins, gorgeous trimwork, hardwood floors, and decorative fireplaces. One of the one-bedrooms will be delivered vacant and rent-ready, offering a new investor the opportunity to lease at market rate Additional amenities include driveway parking, a dedicated storage/garage space with laundry hookups, and a second rear garage area providing ample storage for both owner and tenants. Situated just moments from the vibrant dining, shopping, and coastal attractions that define this historic neighborhood, 361 Gladys Avenue offers the unique combination of owner-occupancy potential, character architecture, and income-producing upside in one of Long Beach’s most desirable neighborhoods.

FOR SALE DETAILS

PRICE

$1,430,000 USD

PRICE/SF

$554 USD /SF

# OF UNITS

3

PRICE/UNIT

$476,667

CAP RATE

3.89%

% LEASED

33%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1919

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,500 SF

ZONING

-

APN/PARCEL ID

7257-009-025

ASK ABOUT THIS PROPERTY

Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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