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.
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
Price:
$3,695,000
MLS #:
PW23229182
Status:
Active
Baths:
0
Address:
736 Olive Avenue
Type:
Residential Income
Subtype:
Commercial/Residential
Subdivision:
Alamitos Beach AB
Neighborhood:
4downtownareaalamitosbeach
City:
Long Beach
Listed Date:
Dec 21, 2023
State:
CA
ZIP:
90813
Lot Size:
12,509 sqft / 0.29 acres (approx)
Year Built:
1927
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Schools
Interior
Exterior
Community Features
Sidewalks
Garage Spaces
8.00
Lot Features
11-15 Units/ Acre
Parking Spots
16.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Water Source
Public
Financial
Map
Community
- Address736 Olive Avenue Long Beach CA
- Area4 – Downtown Area, Alamitos Beach
- SubdivisionAlamitos Beach (AB)
- CityLong Beach
- CountyLos Angeles
- Zip Code90813
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Courtesy of Keller Williams – Santa Monica. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.736 Olive Avenue
Long Beach, CA
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