Long Beach, CA 90813 736 744 Olive Avenue
$3,695,000
11 more
Presented By: Robert Stepp with Keller Williams - Santa Monica; 310-463-2916
Beds • 32
Baths • 4
SQFT • 9,679
Garage • 8
Home Details
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.
Presented By: Robert Stepp with Keller Williams - Santa Monica; 310-463-2916
Interior Features for 736 744 Olive Avenue
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesLaundryRoom
Street SuffixAvenue
Total Stories2
Other Rooms
Entry Level1
General for 736 744 Olive Avenue
Additional Parcels Description7274020036
Additional Parcels Y/NYes
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate6.0
Carport Y/NNo
CityLong Beach
Community FeaturesSidewalks
CountyLos Angeles
Days on Market116
DirectionsE 7th St
Electric Expense1825.0
Entry Location1
Fuel Expense1825.0
Garage Spaces8.0
Garage Y/NYes
Gross Income310116.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense7797.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsCash, CashtoNewLoan, Item1031Exchange
Lot Size Square Feet12509.0
MLS Area4 - Downtown Area, Alamitos Beach
MaintenanceExpense8400.0
MobileHomeRemainsYNNo
Net Operating Income221589.0
New ConstructionNo
Open Parking Spaces8.0
Operating Expense88527.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalMixedUse
Property SubTypeMixedUse
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Street NameOlive
Subdivision NameAlamitos Beach (AB)
Tax Lot6
Taxes$45,916
Total Units12
Trash Expense1825.0
View Y/NNo
Water Sewer Expense1825.0
Waterfront Y/NNo
Year Built1927
Year Built SourceAssessor
ZoningLBR4R
Exterior for 736 744 Olive Avenue
Building Area Total9679.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem1115UnitsAcre
Lot Size Acres0.2872
Lot Size Area12509.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings4
Number of Separate Electric Meters12
Number of Separate Gas Meters12
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking16.0
Water SourcePublic
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480