Residential Income Details
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.
|Number of Units||8|
|Listing Brokerage||Justin White|
|Listing Agent||Justin White|
|Listing Agent BRE #||01267826|
Based on information from California Regional Multiple Listing Service, Inc. as of Friday, August 10, 2018.
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