For Sale
$4,675,000

1050 Gaviota AvenueLong Beach, CA 90813

1050 Gaviota Avenue, a 14-unit asset, located in the in Long Beach, California.

Overview

Added:
Jan 16
Days on market:
78
1050 Gaviota Avenue is a 14-unit asset, located in the in Long Beach, California.
Built in 1963, the property is comprised of (1) 4BD/1BA, (3) 3BD/1BA + Den,
(4) 3BD/1BA, (4) 2BD/1BA, and (2) 1BD/1BA units. Spread across a 12,474-square foot lot, the property has eight (8) garages and a laundry room on site providing additional income. The garages also offer the opportunity for ADU conversion.
Priced at a 5.62% cap rate & 11.99 GRM, on actual rents, new ownership can stabilize the asset at a 6.67% cap rate and 10.56 GRM, by bringing current rents to market value.

Highlights

  • Priced at a 5.62% Cap Rate / 11.99 GRM with Upside to 6.67% Cap Rate / 10.56 GRM Eight (8) garages and a laundry room provide opportunities for additional income Garages also offer the opportunity for ADU conversion

Property Details for 1050 Gaviota Avenue

Property type
Residential income homes, Residential income properties
Square Feet
12,474 SF
Price / Square Foot
$374.78
Year Built
1963
Elevators
N/A
Lot Size (sq. ft)
12,474 SF

Location Insight

City
Long Beach
County
State
California

FAQs

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1050 Gaviota Avenue
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