744 Olive Avenue Long Beach, CA 90813
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 TypeMulti-Family
- NeighborhoodAlamitos Beach (Ab)
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site38 Days
- MLS StatusActive
- MLS ID NumberPW23229182
- Home Size Source N/A
- Year Built1927
- Lot Size0.2872 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking Spaces 16
- Sewer Public Sewer
- Number of Stories 2
- Acreage 0.2872
- Water Public
- Garage Spaces 8
- Zoning LBR4R
- Listing Conditions Standard
Interior Features
- Laundry Features Individual Room
Exterior Features
- Pool Features None
- Lot 11-15 Units/ Acre
Community Features
- Community Features Sidewalks
- Senior Community No
- MLS Area 4 - Downtown Area, Alamitos Beach