$ 1,850,000
-
$1,850,000
Price -
3
Bed -
6
Bath -
5,699
SqFt
NEW! Buy and sell safely with virtual options - Learn More
About the Listing SB1301700 - SBLENINA
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)
Listing Highlights for 936 Olive Ave
Status
Active With Contingency
Days on Site
135
Property Type
Multi-Family
MLS ®
SB25126631
Year Built
1922
Total Square Footage
5,699
Lot/Acreage
0.14
County
Los Angeles
Interior Details
- Bedrooms: 3
- Bathrooms: 6 Full
- Appliances:
- Air Cond: Whole House Fan
- Heating: Wall Furnace
- Fireplaces:
- Floor: Vinyl
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: 6-10 Units/Acre,No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 0
- Zoning: LBR4R
- Roof:
- Others: 2+ Total Units
- Sewer: Public Sewer
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7274022018
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Listing Location
Questions About..
936 Olive Ave Long Beach, CA 90813
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of -
