736 744 Olive AVE Active Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90813
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 9,679 sqft
Price per Sqft $381
Subdivision Alamitos Beach (Ab)
MLS Listing ID PW23229182
HOA Y/N No
Year Built 1927
Lot Size 0.287 Acres
Acres 0.2872
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
Area 4 - Downtown Area, Alamitos Beach
Zoning LBR4R
Rooms
Ensuite Laundry Laundry Room
Interior
Laundry Location Laundry Room
Fireplace No
Laundry Laundry Room
Exterior
Garage Spaces 8.0
Garage Description 8.0
Pool None
Community Features Sidewalks
Total Parking Spaces 16
Private Pool No
Building
Lot Description 11-15 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7274020038
Energy Description 1825.0
Acceptable Financing Cash,Cash to New Loan,1031 Exchange
Listing Terms Cash,Cash to New Loan,1031 Exchange
Special Listing Condition Standard