Property profile & analytics
3402 Gundry Ave Long Beach, CA 90807-4850
- Apartment buildings
- 8,146 SF
- 0.28 lot acres
OFF-MARKET
Last Sale
Oct 31, 2024
Oct 31, 2024
$2,775,000
Value Estimations
$2,665,000
Show details
Cap Rate Potential
Location Intelligence
Property ID
US09-7429279
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Current Use by Public Records
- Apartment buildings
Property Details for 3402 Gundry Ave
- Year built
- 1963
- Construction
- WOOD
- Lot size
- 0.28 lot acres
- Property size
- 8,146 SF
- Zone code
- LBR1N
- Property type
- Apartment buildings
- APN
- 7147-016-034
- APU
- 7147016034
Description
This exceptional 10-unit apartment building, located at 3402 Gundry Avenue in Long Beach, California, presents a compelling investment opportunity. The property boasts 8,146 square feet on a 0.28-acre lot, featuring a mix of six one-bedroom and four two-bedroom units. Built in 1963, this two-story building offers a desirable blend of classic charm and modern convenience. Amenities include gated pedestrian access to a courtyard, nine tuck-under parking spaces with storage lockers, a tandem surface parking space, and an on-site laundry facility. An unused open space presents potential for additional storage units, creating further revenue streams. The property's strong financial performance is highlighted by a current NOI of $158,950 and a pro-forma NOI of $188,035, translating to a current cap rate of 5.49% and a pro-forma cap rate of 6.50%. The asking price is $2,895,000, or $289,500 per unit. Its prime location in the California Heights neighborhood offers residents convenient access to Atlantic Avenue's retail and dining options, a nearby Target, and the Long Beach Exchange shopping mall. Proximity to the Long Beach Memorial Medical Center and Interstate 405 further enhances its appeal. One two-bedroom unit will be delivered vacant at closing. The property is offered fee simple. Drive-by only
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,595,000
- 6.5%
- $2,395,000
- 7%
- $2,225,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,717,000
Market price range: $577k - $2.72M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $1,960,000 Current use
- OFFICE BUILDING
- $2,695,000 Change: +37% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $2,575,000 Change: +31% Conversion: Difficult
- RETAIL STORES
- $2,290,000 Change: +17% Conversion: Difficult
- WAREHOUSE, STORAGE
- $2,265,000 Change: +15% Conversion: Difficult
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Long Beach
- County
- Los Angeles
- State
- California
- Longitude
- -118.174
- Latitude
- 33.8191
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$41,201
$1,000,000
$2,150,000
$3,150,000
-
$0.00
$0.00
$0.00
