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1075 Gladys Avenue

1075 Gladys Avenue,Long Beach, CA 90804

9

Unit

$2,900,000

Price

Property Details

Price Per Unit

$322,222

Price per SF

$316

Current Cap Rate

5.47%

Market Cap Rate

5.65%

Current GRM

12.23

Market GRM

11.95

1075 Gladys Avenue

1075 Gladys Avenue,Long Beach, CA 90804

$2,900,000

Price

Property Details

Price per SF

$316

Price Per Unit

$322,222

Price per SF

$316

Current Cap Rate

5.47%

Market Cap Rate

5.65%

Unit

9

Current GRM

12.23

Market GRM

11.95

Description

1075 Gladys Avenue is a 9-unit apartment asset located in Eastside Long Beach, California. The property is offered at 12.23 GRM and 5.47% cap rate on current rents.

The property is comprised of (1) 2BD / 1BA unit; (7) 2BD / 2BA units; and (1) 3BD / 3BA unit. Fourteen (14) parking spaces are available onsite.

All units have been fully remodeled with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathrooms, and modern fixtures and features throughout. Renovated units offer in-unit washers and dryers.

With an excellent Walk Score of 93, the property is located in the popular Eastside submarket of Long Beach with accessibility to numerous amenities for day-to-day living.

Highlights

  • Priced at 12.23 GRM on Current Rents
  • All Units Fully Renovated with In-Unit Washer/Dryer
  • Attractive Mix of 2BD and 3BD Units
  • Top Floor Units Feature Cathedral Ceilings & Fireplaces
  • Ample Parking with 14 Spaces

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