1212 Gladys Avenue
Long Beach, CA 90804

Built 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.