736 Olive Avenue
Long Beach, CA 90813
0.29 acres | #PW23229182
Description
736-742 Olive is a 12-unit apartment building located in Long Beach, CA. The property is priced at a 6.0% cap rate and an 11.56 GRM on current rents.
Built in 1927, the property includes (2) studios, (1) 5BD/2BA unit, and (9) 3BD/1BA units. Parking is available on-site with eight (8) garages and eight (8) surface spaces. The majority of the units have been updated with new flooring, paint and countertops. New ownership can generate additional upside by converting garages to ADUs, without losing surface parking in the interior courtyards. With a 91 Walk Score, the asset is well located near vibrant Downtown Long Beach and Alamitos Beach.
Property Details
- Lot DescriptionElevenToFifteenUnitsAcre
- SubdivisionAlamitos Beach (AB)
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- CountyLos Angeles
- Original List Price$3,695,000
- MLS #PW23229182
- MLS #PW23229182
- Property SubtypeMixedUse
- Cost3695000
- Acres0.2872
- Utility SourcePublic
- Year Built1927
- Stories2
- Parking Spaces8
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Robert Stepp (#PSTEPROB)
Listing Office: Keller Williams - Santa Monica (#PB20859)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
