905 Gardenia Avenue, Long Beach, California 90813, Long Beach, 90813 - bed, bath

905 Gardenia Avenue, Long Beach, California 90813 home-pic-0
ACTIVE$935,000
905 Gardenia Avenue, Long Beach, California 90813
0Bed
0Bath
2,100Sqft
5,474Lot
Year Built
1921
Close
-
List price
$935K
Original List price
$950K
Price/Sqft
$445
HOA
-
Days on market
-
Sold On
-
MLS number
PW25099168
Home ConditionFair
Features
Deck
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $935.0K(69th), sqft - 2100(46th), beds - undefined(50th), baths - undefined(50th).

Fully-Rented Triplex Convenient to All of Long Beach Don’t miss the opportunity to own this fully-rented triplex at 905 Gardenia Ave. in Long Beach. The 2-bedroom, 1-bathroom front house has long-term (10+ years!) tenants, and is bright with a lovely fireplace in the living room. The kitchen has a farmhouse sink and stainless steel appliances. A laundry room suitable for a stackable washer and dryer is just off the kitchen. The two bedrooms share a ¾ bathroom in between. A small bonus room opens to the back porch and deck area. Behind the main house you’ll find the two 1-bedroom, 1-bathroom units. The downstairs unit has new laminate flooring and both units were recently painted. Both units are good sized with their own outdoor areas. Downstairs, a sliding glass door from the living room leads to a private patio. Upstairs, there’s a wrap-around deck. Both units are currently rented. Together, the units have 2100 square feet of living space, on a 5474 square foot lot, with upgraded concrete pathways and 2 secure parking spaces for each unit! Property is gated front and back. All units have their own electric and gas meters. This triplex is in a great location, situated between Downtown, Alamitos Beach, and Rose Park.

Price History

Date
Event
Price
04/26/18
Sold
$799,000
08/31/15
Sold
$675,000
08/22/14
Sold
$413,000
06/02/05
Sold
$525,000
Condition Rating
Fair

Built in 1921, this triplex shows a mix of conditions. The front unit features a recently updated kitchen with stainless steel appliances, a farmhouse sink, white shaker cabinets, modern countertops, and subway tile, along with a modern, tiled bathroom. However, the two rear units, while having new laminate flooring and fresh paint, present dated kitchens with older wood cabinets, laminate countertops, and white appliances, and older bathrooms with dated vanities and tile. The property is well-maintained and functional, but the significant age of the building and the outdated elements in two of the three units, coupled with the lack of central cooling, place its overall condition in the 'Fair' category, indicating it's aged but maintained with some recent updates, yet major components show signs of being outdated.
Pros & Cons

Pros

Strong Income Potential: This is a fully-rented triplex, providing immediate and consistent cash flow for an investor from day one.
Prime Location: Strategically located between Downtown, Alamitos Beach, and Rose Park, ensuring high tenant demand and potential for property value appreciation.
Stable Tenancy: The front 2-bedroom unit boasts long-term tenants (10+ years), indicating reliability and reducing vacancy risk and turnover costs.
Tenant-Friendly Amenities: Each unit has its own electric and gas meters, and the property offers secure gated access with two dedicated parking spaces per unit, enhancing tenant appeal and convenience.
Recent Updates & Outdoor Spaces: Units feature recent paint, new laminate flooring, an updated kitchen in the front unit, and private outdoor areas (patio, wrap-around deck), contributing to tenant satisfaction.

Cons

Age of Property: Built in 1921, the property may require ongoing maintenance for older infrastructure (plumbing, electrical) and could have lower energy efficiency compared to newer constructions.
Lack of Central Cooling System: The description does not mention any air conditioning, which could be a significant drawback for tenant comfort during warmer months in Long Beach.
Potential for Below-Market Rents: Given the long-term tenants (10+ years) in a rent-controlled market like Long Beach, current rents may be below market value, limiting immediate income upside without tenant turnover.

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