936 Olive Avenue, Long Beach, CA 90813

REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Sun

Jun

Mon

Jun

Tue

Jun

Glen Henderson

[email protected] +1(619) 889-7646

$1,850,000

Est. payment - /mo

1 Bed

4 Baths

6,289 Sqft Lot

Save

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB25126631

Bedrooms 1

HOA Y/N No

Lot Size 6,289 Sqft

Property Sub-Type Res Income 2-4 Units

Type of Financing Cash,Conventional,Exchange

Property Description

Turnkey 10-Unit Property in Prime North East Village Priced to Sell! Located in the vibrant and densely populated North East Village neighborhood, this fully stabilized 10-unit property is an exceptional investment opportunity. Priced at just $185K per unit, it is currently operating at a 9.47 Gross Rent Multiplier (GRM) and a 6.2% cap rate based on current rents. At market rent levels, the GRM improves to 8.90, and the cap rate increases to 6.8%. The unit mix includes 7 studios, 2 one-bedrooms, and 1 two-bedroom unit. All units have been remodeled, and major upgradesincluding a new roof and updated electrical panelwere completed in 2024. The building is master-metered with a RUBS (Ratio Utility Billing System) in place, currently recapturing 60% of utility expenses. An on-site coin-operated laundry room adds convenience for tenants and generates additional income. The exterior has been freshly painted, enhancing curb appeal. Ideally situated near St. Mary Medical Center, downtown Long Beach, the beach, and major freeways, this property offers excellent accessibility and strong rental demand. Dont miss this rare opportunity to acquire a turnkey asset at an attractive price. (Virtual Staging)
Turnkey 10-Unit Property in Prime North East Village Priced to Sell! Located in the vibrant and densely populated North East Village neighborhood, this fully stabilized 10-unit property is an exceptional investment opportunity. Priced at just $185K per unit, it is currently operating at a 9.47 Gross Rent Multiplier (GRM) and a 6.2% cap rate based on current rents. At market rent levels, the GRM improves to 8.90, and the cap rate increases to 6.8%. The unit mix includes 7 studios, 2 one-bedrooms, and 1 two-bedroom unit. All units have been remodeled, and major upgradesincluding a new roof and updated electrical panelwere completed in 2024. The building is master-metered with a RUBS (Ratio Utility Billing System) in place, currently recapturing 60% of utility expenses. An on-site coin-operated laundry room adds convenience for tenants and generates additional income. The exterior has been freshly painted, enhancing curb appeal. Ideally situated near St. Mary Medical Center, downtown Long Beach, the beach, and major freeways, this property offers excellent accessibility and strong rental demand. Dont miss this rare opportunity to acquire a turnkey asset at an attractive price. (Virtual Staging)

Location

State CA

County Los Angeles

Area Long Beach (90813)

Zoning Assessor

Interior

Cooling Attic Fan

Air Conditioning Attic Fan

Building

Lot Description Sidewalks

Story 2

Lot Size Range 4000-7499 SF

Level or Stories 2 Story

Others

Monthly Total Fees $147

Acceptable Financing Cash, Conventional, Exchange

Space Rent $1,745

Listing Terms Cash, Conventional, Exchange

CFD/Mello-Roos Fee $1, 770

Read Less Info

Listed by Nina Le • Buckingham Investments, Inc

Get More Information

Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

936 Olive Avenue Long Beach, CA 90813

Glen Henderson

Key Details

Location

Interior

Building

Others

Get More Information