736 744 Olive Avenue

Long Beach, CA 90813

$3,695,000

List Price

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1927

calendar_month Built

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.

Listing Information

List Price $3,695,000
Status Active
MLS PW23229182
Type Residential Income
Subtype Mixed Use
Year Built 1927
Lot Size 12,509
Structure Size N/A
DOM 252
Courtesy Of Keller Williams - Santa Monica
Listing Agent Robert Stepp DRE#01456379

Interior Features

Laundry Information
Location(s) Laundry Room
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Exterior Information

Maps

Listing information courtesy of: Robert Stepp, Keller Williams - Santa Monica . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 6:29 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.