Long Beach, CA 90813 1050 Gaviota Avenue
$4,675,000
3 more
Presented By: Robert Stepp with Keller Williams - Santa Monica; 310-463-2916
Home Details
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.
Presented By: Robert Stepp with Keller Williams - Santa Monica; 310-463-2916
Interior Features for 1050 Gaviota Avenue
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesLaundryRoom
Street SuffixAvenue
Total Stories2
Other Rooms
Entry Level1
General for 1050 Gaviota Avenue
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.65
Carport Y/NNo
CityLong Beach
Community FeaturesSidewalks
CountyLos Angeles
Days on Market116
DirectionsCherry Ave
Electric Expense3487.3
Entry Location1
Fuel Expense3487.3
Garage Spaces8.0
Garage Y/NYes
Gross Income379418.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense8950.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsCash, CashtoNewLoan, Item1031Exchange
Lot Size Square Feet12474.0
MLS Area4 - Downtown Area, Alamitos Beach
MaintenanceExpense9800.0
MobileHomeRemainsYNNo
Net Operating Income263923.0
New ConstructionNo
Operating Expense115496.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalMixedUse
Property SubTypeMixedUse
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Street NameGaviota
Subdivision NameAlamitos Beach (AB)
Tax Lot89
Taxes$58,133
Total Units14
Trash Expense3487.3
View Y/NNo
Water Sewer Expense3487.3
Waterfront Y/NNo
Year Built1963
Year Built SourceAssessor
ZoningLBR2N
Exterior for 1050 Gaviota Avenue
Building Area Total12928.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem1115UnitsAcre
Lot Size Acres0.2864
Lot Size Area12474.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings1
Number of Separate Electric Meters14
Number of Separate Gas Meters14
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking8.0
Water SourcePublic
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480