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1206 Gladys Ave 8 Unit Apartment Building $2,900,000 ($362,500/Unit) 6.40% Cap Rate Long Beach, CA 90804
INVESTMENT HIGHLIGHTS
- Two of the units have been upgraded with luxury finishings, including in-unit washers and dryers, new cabinets and countertops, AC, minisplits, etc.
- Onsite Laundry room.
- 14 parking spaces provide the opportunity for additional income.
EXECUTIVE SUMMARY
1206 Gladys Avenue is an eight-unit, value-add
apartment asset located in Long Beach.
Built in 1986, the property features desirable 1980's
construction. All eight apartments are sizable 2 BD
/ 2 BA units. Two of the units have been upgraded
with luxury finishings, including in-unit washers
and dryers, new cabinets and countertops, AC,
minisplits, and tankless water heaters.
The onsite laundry room and 14 parking spaces
provide the opportunity for additional income.
1206 Gladys Avenue provides a new buyer with an
attractive value add opportunity with approximately
20% upside to market rent.
apartment asset located in Long Beach.
Built in 1986, the property features desirable 1980's
construction. All eight apartments are sizable 2 BD
/ 2 BA units. Two of the units have been upgraded
with luxury finishings, including in-unit washers
and dryers, new cabinets and countertops, AC,
minisplits, and tankless water heaters.
The onsite laundry room and 14 parking spaces
provide the opportunity for additional income.
1206 Gladys Avenue provides a new buyer with an
attractive value add opportunity with approximately
20% upside to market rent.
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $2,900,000 | Apartment Style | Low-Rise |
| Price Per Unit | $362,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 6.40% | Building Size | 7,680 SF |
| Gross Rent Multiplier | 12.45 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1986/2023 |
| Property Subtype | Apartment | Parking Ratio | 1.82/1,000 SF |
| Zoning | RR2N, Long Beach | ||
| Price | $2,900,000 |
| Price Per Unit | $362,500 |
| Sale Type | Investment |
| Cap Rate | 6.40% |
| Gross Rent Multiplier | 12.45 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 7,680 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1986/2023 |
| Parking Ratio | 1.82/1,000 SF |
| Zoning | RR2N, Long Beach |
AMENITIES
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 8 | - | 950 |
1 1
Walk Score®
Walker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 7259-017-025 | Total Assessment | $2,757,060 |
| Land Assessment | $884,340 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,872,720 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
7259-017-025
Land Assessment
$884,340
Improvements Assessment
$1,872,720
Total Assessment
$2,757,060
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Presented by
New Century Development
1206 Gladys Ave
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