736 744 Olive AVE Active

Long Beach,CA 90813

$ 3695000

- Bed

- Bath

9679 SqFt


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

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

Area 4 - Downtown Area, Alamitos Beach

Zoning LBR4R

Rooms

Ensuite Laundry Laundry Room

Interior

Laundry Location Laundry Room

Laundry Laundry Room

Exterior

Garage Spaces 8.0

Garage Description 8.0

Pool None

Community Features Sidewalks

Building

Lot Description 11-15 Units/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Acceptable Financing Cash,Cash to New Loan,1031 Exchange

Listing Terms Cash,Cash to New Loan,1031 Exchange

Special Listing Condition Standard

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