3402 Gundry Avenue is a 10-unit multifamily investment property located in the California Heights neighborhood of Long Beach, CA. 3402 Gundry Avenue offers an attractive mix consisting of 6, one-bedroom units and 4, two-bedroom units. The property offers gated pedestrian access leading to a charming common-area courtyard, nine tuck-under parking… Read More with storage lockers, a tandem surface space, an on-site laundry facility, and a spacious storage unit. Additionally, there is an unused open space which could be converted into an additional storage unit, with both storage units providing potential additional revenue streams. 3402 Gundry Avenue is situated in the desirable California Heights neighborhood of Long Beach where residents enjoy convenient access to everyday needs as well as a plethora of cafes, restaurants, and retailers located along Atlantic Avenue. The property is located within 0.50 miles of a Target anchored retail center, providing residents easy access to everyday needs. Additionally, 3402 Gundry Avenue is just over 1.75 miles from Long Beach Exchange, a recently developed outdoor shopping mall with a plethora of retail, dining, and entertainment options. Furthermore, the property is proximate to Long Beach Memorial Medical Center, the third top employer in the city with nearly 5,500 practitioners and staff members according to Long Beach’s 2023 Annual Comprehensive Financial Report. 3402 Gundry benefits from its close proximity to Interstate 405, connecting residents to employment hubs throughout Southern California. The neighborhoods surrounding the property provide tenants convenient access to a wide variety of activities, employment, transportation, and retail amenities. This overall demand for a well-located and maintained apartment building will be a key driver in the continued growth and success at 3402 Gundry Avenue. Read Less
Property listed by Marcus & Millichap RE Invest, Tyler Leeson [email protected]
Listing Snapshot
Days Online
127
Last Updated
Property Type
Apartment
Lot Size
0.28 Acres
Year Built
1963
MLS Number
OC24187202
Additional Details
Building
Built in 1963, Building area total: 8,146, Levels: Two, 2 stories, 1 building, Common walls: NoCommonWalls
Community
Curbs, Gutters, Sidewalks
Expenses
Electric expense: $3,935, Fuel expense: $3,935, Insurance expense: $8,500, Maintenance expense: $6,500, New taxes expense: $36,022, Operating expense: $88,201, Trash expense: $3,935, Water sewer expense: $3,935, Other expense: $9,081
Garage
1 space
Income
Gross income: $254,737, Net operating income: $158,950
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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