$1,600,000
An exceptional value-add opportunity in Long Beach, 1868 Gardenia Ave is a well-maintained 6-unit multifamily asset with no local rent control and subject only to statewide AB 1482 (5% + CPI). The property features an optimal unit mix of all 2-bedroom, 1-bathroom layouts, providing strong tenant demand and significant upside in rents. Recent improvements include new roof and fresh exterior paint. Rare for the area, the property includes 12 off-street parking spaces (two tandem spots per unit) maximizing tenant retention and rental rates. Positioned near key commuter routes, dining, and retail hubs, this property presents a compelling acquisition for investors seeking entry into one of Southern California's premier rental markets.
Listed by Stephen Jeong with Keller Williams Realty Irvine (949) 861-8000
Property Type
Apartment
Status
Active
MLS Number
PW26178105
Year Built
1958
Lot Size
6,451 sq ft
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