A
Seller's Agent in 2017
Andrew McAllister
eXp Realty of Greater L.A
(562) 423-8134
17 Total Sales
1212 Gladys Ave Long Beach, CA 90804
Rose Park Neighborhood
16
Beds
16
Baths
6,743
Sq Ft
1987
Built
Highlights
- Property is near public transit
- Landscaped
- 5-minute walk to Orizaba Park
- Woodrow Wilson High School Rated A
- Level Lot
About This Home
As of July 2017Built in 1987, the Gladys Apartments is a Nine-Unit apartment complex with true value add upside potential. The unit mix is comprised of (7) - 2 Bedroom / 2 Bath and (2) 1 Bedroom / 1 Bath spacious units. Current ownership has spent significant capital on recent improvements, including a brand new roof in November of 2016 (10-year roof warranty), drought tolerant landscaping, custom designed iron gates, new exterior paint and three completely renovated units. Interior renovations include whitewashed vinyl flooring, quartz counter tops, subway tile back splashes, stainless steel appliances and complete bathroom remodels. The remaining six units have long term tenants and rents are well below market, leaving significant value add potential for a new investor through interior renovations of those units. The City of Long each is NOT subject to rent control, making it easy for a new investor to capitalize on the already established Pro Forma rents. The property is separately metered for gas & electricity, has 14 garage parking spaces and on-site laundry.
Last Agent to Sell the Property
eXp Realty of Greater L.A License #01946829 Listed on: 05/15/2017
Property Details
Home Type
- Apartment
Year Built
- Built in 1987
Lot Details
- 6,264 Sq Ft Lot
- No Common Walls
- Landscaped
- Level Lot
Parking
- 14 Car Garage
- Parking Available
- Unassigned Parking
Interior Spaces
- 6,743 Sq Ft Home
- 3-Story Property
Bedrooms and Bathrooms
- 16 Bedrooms
- 16 Bathrooms
Outdoor Features
- Exterior Lighting
- Rain Gutters
Location
- Property is near public transit
- Urban Location
Listing and Financial Details
- Tenant pays for electricity, gas
- Tax Lot 11
- Tax Tract Number 5769
- Assessor Parcel Number 7259017028
Community Details
Overview
- 9 Units
Building Details
- 10 Separate Electric Meters
- 10 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $840
- Gardener Expense $900
- Insurance Expense $2,360
- Maintenance Expense $9,000
- Trash Expense $1,200
- Water Sewer Expense $8,700
- New Taxes Expense $22,628
- Operating Expense $46,127
- Gross Income $140,760
- Net Operating Income $90,518
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/18/2017 07/18/17 | Sold | $2,200,000 | +10.3% | $326 / Sq Ft |
| 05/15/2017 05/15/17 | For Sale | $1,995,000 | -- | $296 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Andrew McAllister
-
Daniel Jensen
D
Buyer's Agent in 2017
Daniel Jensen
Jensen Realty
(310) 809-2891
68 Total Sales
-
T
Buyer Co-Listing Agent in 2017
Todd Knoll Saks
West Shores Realty, Inc.
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: RS17106750
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