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755 Gaviota Ave 8 Unit Apartment Building $2,950,000 ($368,750/Unit) 6.08% Cap Rate Long Beach, CA 90813

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Investment Highlights

6.1% Cap Rate on Current Rents with Upside
Built in 1987
Turnkey Asset w/ High-End Finishes. All Units Fully Renovated

100% 2-Bedroom/2-Bathroom Units
Each Unit has Seperate APNs - Not Subject to Statewide or Local Rent Control
Washer & Dryer in Every Unit

Executive Summary

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. All 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 in unit washers and dryers, 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.

Financial Summary (Actual - 2025)	Annual	Annual Per SF
Gross Rental Income	$247,380	$39.71
Other Income	$6,810	$1.09
Vacancy Loss	$7,625	$1.22
Effective Gross Income	$246,565	$39.58
Taxes	$39,562	$6.35
Operating Expenses	$27,664	$4.44
Total Expenses	$67,226	$10.79
Net Operating Income	$179,339	$28.79

Financial Summary (Actual - 2025)

Gross Rental Income
Annual	$247,380
Annual Per SF	$39.71

Other Income
Annual	$6,810
Annual Per SF	$1.09

Vacancy Loss
Annual	$7,625
Annual Per SF	$1.22

Effective Gross Income
Annual	$246,565
Annual Per SF	$39.58

Taxes
Annual	$39,562
Annual Per SF	$6.35

Operating Expenses
Annual	$27,664
Annual Per SF	$4.44

Total Expenses
Annual	$67,226
Annual Per SF	$10.79

Net Operating Income
Annual	$179,339
Annual Per SF	$28.79

Property Facts

Price	$2,950,000	Building Class	C
Price Per Unit	$368,750	Lot Size	0.15 AC
Sale Type	Investment	Building Size	6,640 SF
Cap Rate	6.08%	Average Occupancy	100%
Gross Rent Multiplier	11.61	No. Stories	2
No. Units	8	Year Built	1987
Property Type	Multifamily	Parking Ratio	2.11/1,000 SF
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low-Rise
Zoning	RR2N, Long Beach

Price	$2,950,000
Price Per Unit	$368,750
Sale Type	Investment
Cap Rate	6.08%
Gross Rent Multiplier	11.61
No. Units	8
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.15 AC
Building Size	6,640 SF
Average Occupancy	100%
No. Stories	2
Year Built	1987
Parking Ratio	2.11/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	RR2N, Long Beach