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1050 Gaviota Ave, Long Beach, CA 90813
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1050 Gaviota Ave Long Beach, CA 90813

$4,675,000
  • 35 Beds
  • 14 Baths
  • 12,928 Sq.Ft.
For Sale
$4,675,000 Get Pre-Qualified
Map preview of 1050 Gaviota Ave, Long Beach, CA 90813

Property Overview: 1050 Gaviota Ave Long Beach, CA has 35 bedrooms, 14 bathrooms, 12,928 living square feet and 12,474 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 1050 Gaviota Avenue is a 14-unit asset, located in the in Long Beach, California. Built in 1963, the property is comprised of (1) 4BD/1BA, (3) 3BD/1BA + Den, (4) 3BD/1BA, (4) 2BD/1BA, and (2) 1BD/1BA units. Spread across a 12,474-square foot lot, the property has eight (8) garages and a laundry room on site providing additional income. The garages also offer the opportunity for ADU conversion. Priced at a 5.65% cap rate & 11.95 GRM, on actual rents, new ownership can stabilize the asset at a 6.07% cap rate and 11.34 GRM.

Listed by Robert Stepp | BRE #01456379 | Keller Williams - Santa Monica
Last checked: 9 minutes ago | Last updated: April 16th, 2024 | Source CRMLS | DOM: 125
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Home details

Lot Sq. Ft
12,474
HOA Dues
$0/mo
Year built
1963
Garage
8 Car
Property Type:
Mixed Use
Status
Active
MLS#
PW23229192
City
Long Beach
County
Los Angeles
Time on Site
127 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 14
  • Total # of Buildings: 1
  • # of Electric Meters: 14
  • # of Gas Meters: 14
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 4
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,725
  • Total Rent: $10,900
  • Pro Forma/Market Rent: $2,725
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,890
  • Total Rent: $3,780
  • Pro Forma/Market Rent: $2,032
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,387
  • Total Rent: $2,387
  • Pro Forma/Market Rent: $2,800
Unit Breakdown 4
  • # of Units: 3
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,500
  • Total Rent: $7,500
  • Pro Forma/Market Rent: $2,703
Unit Breakdown 5
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,885
  • Total Rent: $7,540
  • Pro Forma/Market Rent: $2,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.65%
  • Gross Rent Multiplier: 11.95
  • Gross Scheduled Income: $391,153
  • Net Operating Income: $263,923
  • Gross Operating Income: $391,153
Annual Expense Breakdown
  • Total Operating Expense: $115,496
  • Electric: $3,487
  • Gas/Fuel: $3,487
  • Licenses: $1,500
  • New Taxes: $58,133
  • Trash: $3,487
  • Gardener: $480
  • Insurance: $8,950
  • Maintenance: $9,800
  • Professional Management: $17,074
  • Water/Sewer: $3,487
  • Other Expenses: $4,200
  • Other Expense Description: Reserves

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Property Details for 1050 Gaviota Ave

Interior Features
Laundry Information
  • Has Laundry
  • Individual Room
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 8
  • # of Parking Spaces: 8
Lot Information
  • Lot Features: 11-15 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 14
  • Parcel Number: 7267012041
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Alamitos Beach (AB)
  • Directions: Cherry Ave
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 1050 Gaviota Ave

Last sold for $1,931,000 on August 29th, 2008

  • December, 2023

  • Dec 22, 2023

    Date

    Active

    CRMLS: PW23229192

    $4,675,000

    Price

  • August, 2008

  • Aug 29, 2008

    Date

    Sold (Public Records)

    Public Records

    $1,931,000

    Price

  • July, 2008

  • Jul 31, 2008

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 1050 Gaviota Ave

Assessed Value (2020): $2,273,469
Year Land Value Improved Value Assessed Value
2020 $941,995 $1,331,474 $2,273,469

Home Value Compared to the Market

This property vs the competition

1050 Gaviota Ave is listed 484.45% higher than the median list price for the city of Long Beach which has a median list price of $799,900. The median price per/sqft for Long Beach is $637 and this home is listed at $361.62 per/sqft which puts the price per square foot 43.23% lower than the median price per square foot for the city of Long Beach.

About 1050 Gaviota Ave

Detailed summary of property

1050 Gaviota Ave is a mixed use located in Long Beach, CA 90813 and is currently for sale. This mixed use property offers 35 bedrooms, 14 bathrooms, roughly 12,928 living square feet, and sits on an approximately 12,474 square foot lot. 1050 Gaviota Ave was first listed on ArdentRealEstateGroup.com on December 22, 2023. The homeowner is currently asking $4,675,000. The median priced home in Long Beach is $799,900 with a median price per square foot of $637. Based on Ardent Real Estate Group's Long Beach Market Data, this home is listed 484.45% higher than the median priced home. Local competing homes currently for sale include 2658 Santa Ana Ave, 133 S Melrose St and 423 N Harvard Blvd. While the average home in Long Beach, CA is selling in 54 days, 1050 Gaviota Ave has a days on market of 125 days. There are currently 593 homes for sale in the Long Beach real estate market and 338 of them are single family homes while 242 of them are condos and 13 are townhomes. For more information on this home for sale at 1050 Gaviota Ave Long Beach, CA 90813 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1050 Gaviota Ave

Public county record property details
Beds
--
Baths
14
Year built
1963
Sq. Ft.
12,928
Lot Size
12,474
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
89
APN
7267-012-041

The source for these homes facts are from public records.

90813 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$695,000
Median List Price/Sq.Ft.
$563
Median Sold Price
$515,000
Median Sold Price/Sq.Ft.
$612
Total Inventory
30
Median Sale to List Price %
98.1%
Avg Days on Market
27
Loan Type
Conventional (54.55%), FHA (9.09%), VA (18.18%), Cash (0%), Other (18.18%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

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