Renovated 8-Unit Multifamily
755 Gaviota Avenue Long Beach, CA 90813
For Sale
Contact for pricing
Well-maintained 1987-built property with eight renovated two-bedroom, two-bath units, each with in-unit laundry and private balconies.
Property Size6,640 SF
Price / SF$444.28
Days on Market73
Property Features for 755 Gaviota Avenue
General Information
- Standard status
- Active
- Size
- 6,640 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1987
Listing Agency:
Morgan Skenderian Investment Real Estate Group
Listed By:
Ken Morgan · License #01220368
Source:
Crexi
Added: May 12
Changed: Jul 21
Last Checked: Jul 23 at 12:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Morgan Skenderian Investment Real Estate Group
Investment Insights
Based on property information with market context.
This well-maintained 8-unit multifamily property was built in 1987 and is configured exclusively with two-bedroom, two-bath units. 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.
The property includes separate APNs for each unit, offering flexibility for a future buyer. The asset is also not subject to statewide or local rent control, and the current ownership has implemented a RUBS program that generates additional income. On-site amenities include a secured parking garage and controlled access.
Overall, the building’s unit mix, renovation scope, and controlled-entry parking support a turnkey residential income setup for buyers seeking an 8-unit asset.
The property includes separate APNs for each unit, offering flexibility for a future buyer. The asset is also not subject to statewide or local rent control, and the current ownership has implemented a RUBS program that generates additional income. On-site amenities include a secured parking garage and controlled access.
Overall, the building’s unit mix, renovation scope, and controlled-entry parking support a turnkey residential income setup for buyers seeking an 8-unit asset.
Key Highlights
- 8‑unit multifamily built in 1987 in Long Beach with exclusively 2‑bedroom, 2‑bath units
- All eight units renovated with new flooring, updated countertops, and stainless steel kitchen appliances (refrigerator, stove/oven, dishwasher)
- Each unit includes in‑unit washer and dryer, private balcony, and ceiling fans
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $266.9k | $40.20 |
| − Vacancy | −$11.2k | −$1.69 |
| EGI | $255.7k | $38.51 |
| − OpEx | −$115.1k | −$17.33 |
| NOI | $140.6k | $21.18 |
6,640 SF · lease $40.20/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.01M
$1.76M – $2.34M
NOI $140,644 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.18M
$1.91M – $2.54M
NOI $152,619 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Well-maintained 1987-built property with eight renovated two-bedroom, two-bath units, each with in-unit laundry and private balconies.
Where is this apartment building located?
The property is located at 755 Gaviota Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 8‑unit multifamily built in 1987 in Long Beach with exclusively 2‑bedroom, 2‑bath units; All eight units renovated with new flooring, updated countertops, and stainless steel kitchen appliances (refrigerator, stove/oven, dishwasher); Each unit includes in‑unit washer and dryer, private balcony, and ceiling fans
