811 Gardenia is a well-positioned 7-unit asset located in Long Beach, California. The property is priced at a 5.58% cap and 12.0 GRM on current rents. Built in 1963, The asset has a strong unit mix comprised of (1) 6BD/2BA, (1) 4BD/1BA, (3) 3BD/1BA and (2) 2BD/1BA units. Most of the units have been partially upgraded with new floors, countertops, fixtures and paint. The property has four (4) garages and a laundry room providing additional income. New ownership also has the opportunity to convert garages to ADUs for increased income.
Property Features
Bedrooms
Appliances
- Laundry Features: Individual Room
Bathrooms
Land Info
- Lot Description: 6-10 Units/Acre
- Lot Size Acres: 0.1422865
- Lot Size Source: Assessor
- Lot Size Square Feet: 6198
Garage and Parking
- Garage Spaces: 4
- Parking Total: 4
Multi-Unit Info
- Number of Units: 7
- Bedrooms in Unit-1: 6
- Bedrooms in Unit-2: 4
- Bedrooms in Unit-3: 3
- Bedrooms in Unit-4: 2
- Total Bathrooms in Unit-1: 2
- Total Bathrooms in Unit-2: 1
- Total Bathrooms in Unit-3: 1
- Total Bathrooms in Unit-4: 1
Homeowners Association
- Gardener Expense: 1200.00
- Maintenance Expense: 4900.00
Rental Info
Amenities and Community Features
- Community Features: Sidewalks
Other Property Info
- Source Listing Status: Active
- County: Los Angeles
- Cap Rate: 5.58
- Other Expense: 2100.00
- Source Property Type: Residential Income
- Insurance Expense: 5168.00
- Area: 4 - Downtown Area, Alamitos Beach
- Source Neighborhood: Alamitos Beach (AB)
- New Taxes Expense: 30465.00
- Number of Separate Electric Meters: 7
- Number of Separate Gas Meters: 7
- Number of Separate Water Meters: 1
- Parcel Number: 7267016027
- Pest Control Expense: 1167.00
- Postal Code Plus 4: 5137
- Professional Management Expense: 8714.00
- Subdivision: Alamitos Beach (AB)
- Trash Expense: 1173.80
- Zoning: LBR2N
- Source System Name: C2C
Commercial Info
- Net Operating Income: 133736.00
Building and Construction
- Total Square Feet Living: 6364
- Year Built: 1963
- Building Features: 1
- Common Walls: 2+ Common Walls
- Entry Level: 1
- Entry Location: 1
- Property Age: 61
- Property Attached: Yes
- Levels or Stories: Two
- Building Total Stories: 2
- Structure Type: Commercial/Residential
- Year Built Source: Assessor
Utilities
- Electric Expense: 1173.80
- Sewer: Sewer: Public Sewer, Water Sewer Expense: 1173.80
- Water Source: Public
