818 Gaviota Avenue

  • Long Beach

  • $1,900,000
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Residential Income Details

Description
5.92% cap on market rents! Tons of upside for new buyer to raise rents on this easy to manage asset. An excellent opportunity to acquire an 8-unit multifamily building in Long Beach. Located at 818 Gaviota Ave. This multifamily asset was built in 1987. It offers eight spacious 2 bed, 2 bath units – four of which have private balconies. The building is in good condition and seven of the units have received upgrades including fresh paint and linoleum flooring. Residents enjoy use of one large shared garage on the first floor, as well as, covered parking in the back fora total of 14 parking spaces. The building also brings in additional income with on-site laundry facilities. Total building square footage is 6,963 square feet.Long Beach has seen a steady increase in demand for apartment units as prices are still relatively low compared to other neighborhoods in South Los Angeles County. Recent development projects in Downtown Long Beach such as the complete overhaul of the Long Beach Civic Center, a 36 story – 500 room hotel with additional retail space and the Amli Parc Broadway mixed-use project have attracted additional buzz. For the right investor, this multi-family asset will represent a good opportunity to generate years of steady cash flow and a higher than average ROI.
Essential
MLS #PW18091779
Price$1,900,000
Number of Units8
Sale TypeStandard
StatusActive
Listing BrokerageJustin White
Listing AgentJustin White
Listing Agent BRE #01267826
Interior
Exterior
Garage Spaces7
PoolNone
Community
Area4 - Downtown Area, Alamitos Beach
CommunityUrban
Address818 Gaviota Avenue
CityLong Beach
CountyLos Angeles
StateCA
ZipCode90813
School

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Based on information from California Regional Multiple Listing Service, Inc. as of Friday, August 10, 2018. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.