755 Gaviota Avenue
- 6.3% CAP Rate on Current Rents with Upside
- 100% 2-Bedroom/2-Bathroom Units
- Built in 1987
- Each Unit has Separate APNs - Not Subject to Statewide or Local Rent Control
- Turnkey Asset w/ High-End Finishes. 7 of 8 Interiors Renovated
- Washer & Dryer in Every Unit
Property Description
Morgan Skenderian, Inc., is pleased to present this well-maintained 8-unit multifamily property in Long Beach. Built in 1987, the property features exclusively two-bedroom, two-bathroom units, offering a highly desirable and functional layout for tenants. Six of the eight units have been extensively renovated with brand-new flooring, updated countertops, and modern stainless steel kitchen appliances, including a refrigerator, stove/oven, and dishwasher. Each unit also includes washer and dryer hookups, private balconies, and ceiling fans, enhancing overall tenant comfort and convenience. The property is uniquely configured with separate APNs for each unit, providing a future buyer with flexibility and potential exit strategies. Additionally, the asset is not subject to statewide or local rent control, allowing for unrestricted rent growth. Current ownership has implemented a RUBS program, generating additional income. On-site amenities include a secured parking garage and controlled access, further contributing to tenant appeal and overall property security.
Broker Details
Morgan Skenderian Investment Real Estate Group (949) 251-8800
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,875,000 |
| No. of Units: | 8 |
| Year Built: | 1987 |
| Lot Size: | 0.15 Acres |
| Opportunity Zone: | No |
| Price per unit: | $359,375 |
| Property Website | Click Here |
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