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924 Gaviota Avenue

924 Gaviota Avenue,Long Beach, CA 90813

8

Unit

$2,650,000

Price

Property Details

Price Per Unit

$331,250

Price per SF

$385

Current Cap Rate

5.49%

Market Cap Rate

6.23%

Current GRM

12.18

Market GRM

11.10

924 Gaviota Avenue

924 Gaviota Avenue,Long Beach, CA 90813

$2,650,000

Price

Property Details

Price per SF

$385

Price Per Unit

$331,250

Price per SF

$385

Current Cap Rate

5.49%

Market Cap Rate

6.23%

Unit

8

Current GRM

12.18

Market GRM

11.10

Description

924 Gaviota Avenue is an 8-unit apartment asset located in Long Beach, California. The property is offered at 5.49% cap rate on current rents.
Built in 1987, the building is comprised of all spacious 2BD/2BA units, most of which have been upgraded with recessed lighting, laminate flooring, and quartz countertops.
There is ample parking with two spaces per unit, and onsite laundry provides current income.
Property improvements include a new roof (less than five years old) and updated landscaping.
924 Gaviota Avenue is conveniently located in a central Long Beach location with easy access to amenities for daily living.

Highlights

  • Priced at 5.49% Cap Rate on Current Rents
  • All 2BD/2BA Units – 1980’s Construction
  • Most Units Updated – Recessed Lighting, Flooring, Countertops
  • Potential to Add In-Unit Washer Dryers to Increase Rents
  • New Roof – Less than 5 Years Old
  • Two (2) Parking Spaces per Unit

Map

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