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912 Gladys Avenue

912 Gladys Avenue,Long Beach, CA 90804

8

Unit

$2,675,000

Price

Property Details

Price Per Unit

$334,375

Price per SF

$
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Current Cap Rate

4.87%

Market Cap Rate

5.32%

Current GRM

13.55

Market GRM

12.70

912 Gladys Avenue

912 Gladys Avenue,Long Beach, CA 90804

$2,675,000

Price

Property Details

Price per SF

$

Price Per Unit

$334,375

Price per SF

$

Current Cap Rate

4.87%

Market Cap Rate

5.32%

Unit

8

Current GRM

13.55

Market GRM

12.70

Description

912 Gladys Avenue is an 8-unit investment asset located in the Rose Park Historic District in Eastside Long Beach. The property offers a favorable mix of one 3 BD/2 BA townhouse and seven 2 BD/1 BA units. Onsite laundry facilities, as well as four private single car garages, provide additional income.

Property renovations totaling over $80K include six upgraded units, new laundry equipment, exterior painting and ironwork, and new synthetic grass and flagstone.

Located in the quiet, residential Rose Park Historic District, the property is nestled among 1920’s Craftsman homes in a neighborhood populated by many families and young professionals. With a Walk Score of 92, the property provides tenants with convenient, walkable access to all amenities for day-to-day living.

Offered at a 4.87% cap rate and 13.55 GRM at current rents, 912 Gladys Avenue provides a new buyer with a well-maintained property in a highly desirable rental market.

Highlights

  • 4.87% cap rate / 13.55 GRM at current rents
  • Strong Mix of (1) 3BD/2BA townhouse and (7) 2BD/1BA units
  • Exterior renovations and six upgraded units
  • Onsite laundry and parking income

Map

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