Call For Appointment to See This Home Dmitry Litvishkov (310)-709-4920
936 Olive Avenue , Long Beach, CA - 90813 is For Sale
Details
: $2,080,000
: 936 Olive Avenue
: Long Beach
: CA
: 4 - Downtown Area, Alamitos Beach
: Residential Income
: 584 M2
: 10
: $6
: $186,877
: $124,257
: SB24215096
: 0.1444 ac
Property Description
Long Beach Home For Sale. 10-Unit Property in the Densely Populated North East Village Neighborhood This 10-unit property is located in the highly desirable North East Village neighborhood. Priced at $208K per unit, it is fully stabilized, operating with a 10.60 gross rent multiplier (GRM) and a 6% capitalization rate based on current rental income. The unit mix consists of 7 studios, 2 one-bedroom units, and 1 two-bedroom unit. At market rental income, the GRM improves to 9.79, and the cap rate rises to 6.5%. All units have been remodeled, and both the roof and electrical panel were updated in 2024. The building is master-metered with a RUBS (Ratio Utility Billing System) in place, currently covering 60% of utility expenses. Additionally, an onsite coin-operated laundry room provides extra income and convenience for tenants. Centrally located near St. Mary Medical Center, downtown Long Beach, the beach, and major freeways, this property offers excellent accessibility. It is a rare opportunity to acquire a turn-key asset at an attractive value.
Listed By
Buckingham Investments, Inc
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