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3402 Gundry Ave, Long Beach, CA 90807
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3402 Gundry Ave Long Beach, CA 90807

$2,895,000
  • 14 Beds
  • 14 Baths
  • 8,146 Sq.Ft.
For Sale
$2,895,000 Get Pre-Qualified
Map preview of 3402 Gundry Ave, Long Beach, CA 90807

Property Overview: 3402 Gundry Ave Long Beach, CA has 14 bedrooms, 14 bathrooms, 8,146 living square feet and 12,196 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: 3402 Gundry Avenue is a 10-unit multifamily investment property located in the California Heights neighborhood of Long Beach, CA. 3402 Gundry Avenue offers an attractive mix consisting of 6, one-bedroom units and 4, two-bedroom units. The property offers gated pedestrian access leading to a charming common-area courtyard, nine tuck-under parking with storage lockers, a tandem surface space, an on-site laundry facility, and a spacious storage unit. Additionally, there is an unused open space which could be converted into an additional storage unit, with both storage units providing potential additional revenue streams. Furthermore, nine units are eligible for an 8.9 percent rental increase on December 1, 2024, while one unit is set to be delivered vacant. 3402 Gundry Avenue is situated in the desirable California Heights neighborhood of Long Beach where residents enjoy convenient access to everyday needs as well as a plethora of cafes, restaurants, and retailers located along Atlantic Avenue. The property is located within 0.50 miles of a Target anchored retail center, providing residents easy access to everyday needs. Additionally, 3402 Gundry Avenue is just over 1.75 miles from Long Beach Exchange, a recently developed outdoor shopping mall with a plethora of retail, dining, and entertainment options. Furthermore, the property is proximate to Long Beach Memorial Medical Center, the third top employer in the city with nearly 5,500 practitioners and staff members according to Long Beach’s 2023 Annual Comprehensive Financial Report. 3402 Gundry benefits from its close proximity to Interstate 405, connecting residents to employment hubs throughout Southern California. The neighborhoods surrounding the property provide tenants convenient access to a wide variety of activities, employment, transportation, and retail amenities. This overall demand for a well-located and maintained apartment building will be a key driver in the continued growth and success at 3402 Gundry Avenue.

Listed by Tyler Leeson | BRE #01451551 | Marcus & Millichap RE Invest
Last checked: 43 seconds ago | Last updated: September 9th, 2024 | Source CRMLS | DOM: 10

Home details

Lot Sq. Ft
12,196
HOA Dues
$0/mo
Year built
1963
Garage
1 Car
Property Type:
Apartment
Status
Active
MLS#
OC24187202
City
Long Beach
County
Los Angeles
Time on Site
9 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 10
  • Total # of Buildings: 1
  • # of Electric Meters: 10
  • # of Gas Meters: 10
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 6
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $9,263
  • Total Rent: $9,263
  • Pro Forma/Market Rent: $13,170
Unit Breakdown 2
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $8,292
  • Total Rent: $8,292
  • Pro Forma/Market Rent: $10,380
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.15%
  • Gross Rent Multiplier: 13.62
  • Gross Scheduled Income: $210,660
  • Net Operating Income: $120,032
  • Gross Operating Income: $204,340
  • Vacancy Allowance: $6,320
  • Other Income 1: $1,844
  • Other Income Description: Misc
Annual Expense Breakdown
  • Total Operating Expense: $86,152
  • Electric: $3,935
  • Gas/Fuel: $3,935
  • New Taxes: $36,022
  • Trash: $3,935
  • Insurance: $8,500
  • Maintenance: $6,500
  • Professional Management: $10,309
  • Water/Sewer: $3,935
  • Other Expenses: $9,081
  • Other Expense Description: Misc

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Property Details for 3402 Gundry Ave

Interior Features
Laundry Information
  • Has Laundry
  • Community
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 1
  • # of Parking Spaces: 11
Lot Information
  • Lot Features: Level with Street
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 10
  • Parcel Number: 7147016034
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: California Heights (CH)
  • Directions: Cross Streets of Gundry Avenue & East Wardlow Road
Neighborhood Information
  • Community Features: Curbs, Gutters, Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 3402 Gundry Ave

Last sold on August 30th, 1993

  • September, 2024

  • Sep 9, 2024

    Date

    Active

    CRMLS: OC24187202

    $2,895,000

    Price

  • August, 1993

  • Aug 30, 1993

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 3402 Gundry Ave

Assessed Value (2020): $289,140
Year Land Value Improved Value Assessed Value
2020 $107,577 $181,563 $289,140

Home Value Compared to the Market

This property vs the competition

3402 Gundry Ave is listed 271.15% higher than the median list price for the city of Long Beach which has a median list price of $780,000. The median price per/sqft for Long Beach is $646 and this home is listed at $355.39 per/sqft which puts the price per square foot 44.99% lower than the median price per square foot for the city of Long Beach.

About 3402 Gundry Ave

Detailed summary of property

3402 Gundry Ave is a apartment located in Long Beach, CA 90807 and is currently for sale. This apartment offers 14 bedrooms, 14 bathrooms, roughly 8,146 living square feet, and sits on an approximately 12,196 square foot lot. 3402 Gundry Ave was first listed on ArdentRealEstateGroup.com on September 9, 2024. The homeowner is currently asking $2,895,000. The median priced home in Long Beach is $780,000 with a median price per square foot of $646. Based on Ardent Real Estate Group's Long Beach Market Data, this home is listed 271.15% higher than the median priced home. Local competing homes currently for sale include 1660 Park Ave, 733 Daisy Ave and 1517 E 1st St. While the average home in Long Beach, CA is selling in 62 days, 3402 Gundry Ave has a days on market of 10 days. There are currently 778 homes for sale in the Long Beach real estate market and 416 of them are single family homes while 337 of them are condos and 23 are townhomes. For more information on this home for sale at 3402 Gundry Ave Long Beach, CA 90807 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 3402 Gundry Ave

Public county record property details
Beds
20
Baths
10
Year built
1963
Sq. Ft.
8,146
Lot Size
12,119
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
42-45
APN
7147-016-034

The source for these homes facts are from public records.

90807 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$959,000
Median List Price/Sq.Ft.
$603
Median Sold Price
$1,055,000
Median Sold Price/Sq.Ft.
$579
Total Inventory
74
Median Sale to List Price %
100.48%
Avg Days on Market
14
Loan Type
Conventional (54.55%), FHA (0%), VA (4.55%), Cash (9.09%), Other (22.73%)

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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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