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1464 Gardenia Ave, Long Beach, CA 90813
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1464 Gardenia Ave Long Beach, CA 90813

$2,250,000
  • 15 Beds
  • 8 Baths
  • 5,112 Sq.Ft.
Back Up Offer
$2,250,000 Get Pre-Qualified
Map preview of 1464 Gardenia Ave, Long Beach, CA 90813

Property Overview: 1464 Gardenia Ave Long Beach, CA has 15 bedrooms, 8 bathrooms, 5,112 living square feet and 6,076 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: Totally remodeled, turnkey 8-unit (6+2 brand new ADU's) property in a high demand rental area of Long Beach. Great unit mix with one 3 bed/1 bath unit, five 2 bed/1 bath units, and two brand new 1 bed/1 bath detached ADU's. High yield, low expense property at an in-place cap rate of 5.8% and a GRM of 11.15 with an additional 8% in upside to a market cap rate of 6.5% and a 10.30 GRM. Extensively renovated property including exterior refresh, new windows, main electrical panel, controlled access, low-water landscaping, common areas, and lighting. 5 out of 6 existing units upgraded with new vinyl flooring, new kitchens, bathrooms, paint, and lighting. Two brand new 1 bed/1 bath ADUs just completed at the rear of the property separated by a new turf courtyard. ADUs include mini-split AC units, in-unit laundry hookups, open concept kitchen/living areas, stainless steel appliances, high grade cabinets, quartz countertops, and full-sized bathrooms. Parking for 3-4 cars in the rear of the property.

Listed by Anthony Walker | BRE #01908153 | Buckingham Investments, Inc
Co-listed by Josh Ess | BRE #02035659 | Buckingham Investments, Inc
Last checked: 14 minutes ago | Last updated: April 30th, 2024 | Source CRMLS | DOM: 13
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Home details

Lot Sq. Ft
6,076
HOA Dues
$0/mo
Year built
1953
Garage
--
Property Type:
Apartment
Status
Back Up Offer
MLS#
SB24077577
City
Long Beach
County
Los Angeles
Time on Site
13 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 2
  • # of Electric Meters: 8
  • # of Gas Meters: 8
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,220
  • Total Rent: $2,220
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,495
  • Total Rent: $2,495
  • Pro Forma/Market Rent: $2,800
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,842
  • Total Rent: $1,842
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,245
  • Total Rent: $2,245
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,395
  • Total Rent: $2,395
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,220
  • Total Rent: $2,220
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,700
  • Total Rent: $1,700
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,700
  • Total Rent: $1,700
  • Pro Forma/Market Rent: $1,700
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.8%
  • Gross Rent Multiplier: 11.15
  • Gross Scheduled Income: $201,804
  • Net Operating Income: $131,229
  • Gross Operating Income: $191,714
  • # of Rented Garages: 0
Annual Expense Breakdown
  • Total Operating Expense: $60,484
  • Electric: $570
  • Gas/Fuel: $570
  • Licenses: $500
  • New Taxes: $28,125
  • Trash: $570
  • Gardener: $840
  • Insurance: $8,946
  • Maintenance: $9,586
  • Professional Management: $9,586
  • Water/Sewer: $570

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Property Details for 1464 Gardenia Ave

Interior Features
Laundry Information
  • Has Laundry
  • Inside
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 3
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Builder
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 8
  • Parcel Number: 7261017011
  • 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: Poly High (PH)
  • Directions: East side of Gardenia, off of Cherry.
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Long Beach Agent

Sale History for 1464 Gardenia Ave

Last sold for $1,600,000 on March 22nd, 2022

  • April, 2024

  • Apr 30, 2024

    Date

    Back Up Offer

    CRMLS: SB24077577

    $2,250,000

    Price

  • Apr 18, 2024

    Date

    Active

    CRMLS: SB24077577

    $2,250,000

    Price

  • February, 2022

  • Feb 11, 2022

    Date

    Active

    CRMLS: RS22027127

    $1,600,000

    Price

  • Listing provided courtesy of CRMLS

    Excellent 6 Unit Apartment Building, two Story 3 units 1st floor and 3 units 2nd floor built 1953 and 4 single Garage built in 1/24/1960 desirable rental Area, close to all amenities, shopping, closest intersection Pacific Coast Hwy and Cherry Blvd.

  • January, 2004

  • Jan 28, 2004

    Date

    Sold (Public Records)

    Public Records

    $731,000

    Price

  • January, 2004

  • Jan 28, 2004

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1464 Gardenia Ave

Assessed Value (2020): $950,322
Year Land Value Improved Value Assessed Value
2020 $650,020 $300,302 $950,322

Home Value Compared to the Market

This property vs the competition

1464 Gardenia Ave is listed 181.29% 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 $440.14 per/sqft which puts the price per square foot 30.9% lower than the median price per square foot for the city of Long Beach.

About 1464 Gardenia Ave

Detailed summary of property

1464 Gardenia Ave is a apartment located in Long Beach, CA 90813 and is currently in escrow to be sold. This apartment offers 15 bedrooms, 8 bathrooms, roughly 5,112 living square feet, and sits on an approximately 6,076 square foot lot. 1464 Gardenia Ave was first listed on ArdentRealEstateGroup.com on April 18, 2024. The homeowner is currently asking $2,250,000. 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 181.29% higher than the median priced home. Local competing homes currently for sale include 441 Dawson Ave, 1616 E 4th St and 650 E 15th St. While the average home in Long Beach, CA is selling in 54 days, 1464 Gardenia Ave has a days on market of 13 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 1464 Gardenia 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 1464 Gardenia Ave

Public county record property details
Beds
6
Baths
6
Year built
1953
Sq. Ft.
3,352
Lot Size
6,075
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
2
APN
7261-017-011

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.
$546
Median Sold Price
$584,000
Median Sold Price/Sq.Ft.
$592
Total Inventory
28
Median Sale to List Price %
108.35%
Avg Days on Market
23
Loan Type
Conventional (80%), FHA (10%), VA (10%), Cash (0%), Other (0%)

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Recently Sold Homes Near 1464 Gardenia Ave

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$1,297,500 Last Sold Price
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1426 Cherry Ave
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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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