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USACALong Beach936 Olive Ave
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$1,850,000

936 Olive Ave, Long Beach, CA

Condo

For Sale

$--,---,---
000
  • Key Facts
  • Description
  • Map

Key Facts

Type Apartment
Levels Residential Income
Size -
Garage No
Maintenance Fees 
Taxes 
Days Active 1
Approx. Age 1922
MLS® Number SB25126631

Property Address: 

Average square foot calculated using Size range provided by listing agent.

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 upgrades—including a new roof and updated electrical panel—were 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. Don’t miss this rare opportunity to acquire a turnkey asset at an attractive price. (Virtual Staging)Show Description
MLS® NumberSB25126631
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry LevelCommon Area
Exposure
Exterior
GarageNo
Approx. Age1922
Stories2
Pets
Corp Number

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

HeatWall Furnace
A/CWhole House Fan
Heating Fuel

Extras

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