$ 3,695,000
736 Olive Avenue Long Beach, CA 90813
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
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Listed by Robert Stepp • Keller Williams - Santa Monica
$ 3,695,000
Est. payment /mo
New
736 Olive Avenue Long Beach, CA 90813
9,679 SqFt
UPDATED:
09/09/2024 04:49 AM
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 9,679 sqft
Price per Sqft $381
Subdivision Alamitos Beach
MLS Listing ID PW-23229182
Year Built 1927
Lot Size 0.287 Acres
Property 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.
Location
State CA
County Los Angeles
Zoning LBR4R
Interior
Laundry Individual Room
Exterior
Garage Gated
Garage Spaces 8.0
Pool None
Community Features Sidewalks
Building
Lot Description 11-15 Units/Acre
Sewer Public Sewer