1050 Gaviota Avenue Long Beach, CA 90813

This exceptional 14-unit multifamily investment opportunity is located at 1050 Gaviota Avenue in Long Beach, California, 90813. Built in 1963, the property sits on a 0.28-acre lot encompassing 12,474 square feet. The unit mix includes one 4-bedroom/1-bathroom unit, three 3-bedroom/1-bathroom units with dens, four 3-bedroom/1-bathroom units, four 2-bedroom/1-bathroom units, and two 1-bedroom/1-bathroom units. On-site amenities include eight garages and a laundry room, generating supplemental income streams. The garages present a significant opportunity for the conversion into Accessory Dwelling Units (ADUs), further enhancing the property's value and rental income potential. Currently priced to yield a 5.62% capitalization rate and a gross rent multiplier (GRM) of 11.99, based on current rents. However, a market rent analysis indicates a substantial upside potential, with projections of a 6.67% capitalization rate and a 10.56 GRM achievable through rent stabilization. This property offers a compelling blend of immediate income and significant long-term growth potential, making it an attractive investment for discerning buyers seeking a strong return on investment in the thriving Long Beach market.