Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

Apartment

Bedrooms

6

Building size

4,008 sqft

Lot size

6,451 sqft

Year built

1958

Stories

2

Garage spaces

0

Pool

None

Status

Active

Days on market

0

MLS #

245972927

About this property

An exceptional value-add opportunity in Long Beach, 1868 Gardenia Ave is a well-maintained 6-unit multifamily asset with no local rent control and subject only to statewide AB 1482 (5% + CPI). The property features an optimal unit mix of all 2-bedroom, 1-bathroom layouts, providing strong tenant demand and significant upside in rents. Recent improvements include new roof and fresh exterior paint. Rare for the area, the property includes 12 off-street parking spaces (two tandem spots per unit) maximizing tenant retention and rental rates. Positioned near key commuter routes, dining, and retail hubs, this property presents a compelling acquisition for investors seeking entry into one of Southern California's premier rental markets.

Location

1868 Gardenia Avenue

Long Beach, Los Angeles, CA, 90806