1060 OLIVE Avenue Long Beach, CA 90813

239113740 33.780178 -118.18254 124 /listing/239113740-150586581/1060-olive-avenue-long-beach-ca-90813 False 0 5095000.0 105 19464906 False
  • $5,095,000
  • 13,048 lot
  • Est payment $27351.06/mo

Property & Neighborhood Info

Courtesy Of Brice Head, Marcus & Millichap

Multi-Family in Long Beach

A seamless investment opportunity - an 'easy' acquisition for a novice investor or a painless addition to a seasoned investor's portfolio. The subject property has been extensively and elegantly rehabbed with $400,000 of capital expenditure. The attractive, mid-century modern aesthetic attracts a discerning renter. 10 of the 16 units have been gutted and redone. The owners, admittedly, overspent and it shows. All new surfaces, flooring, fixtures. You name it, it's new. In addition to the interior rehab, the rehabbed units have had A/C installed. On the exterior, the entire façade has been re-imaged. Also, new windows and extensive drought-tolerant landscaping, in front and along both sides of the building. The 1985-built, all 2 Bedroom asset, is 25 years newer than the 'average' Long Beach apartment property; IMMEDIATE UPSIDE TO A 6% CAP WITH JUST MODEST INCREASES TO THE REMAINING 6 UNITS.

Courtesy Of Brice Head, Marcus & Millichap
  1. 13,048 Lot

Main Features

  • Listing Status: Contract Pending
  • Year Built: 1985
  • Floors: 2
  • County: Los Angeles
  • Units: 16
  • Zoning: LBR4R
  • MLS Number:19464906

Additional Features

  • Land Size Source:
    • Assessor
  • Lot Features:
    • Sprinklers None
  • Parking:
    • Subterranean
  • Number of Buildings:
    • 1
  • Net Operating Income:
    • 245492.00
  • CDOM:
    • 35
  • Assessments:
    • None
  • Special Conditions:
    • Standard
  • Gross Operating Income:
    • 368940.00
  • Insurance Expense:
    • 5076.00
  • Lot Size Acres:
    • 0.2995
  • Lot Size Area:
    • 13048.0000
  • Lot Size Square Feet:
    • 13048.00
  • Maintenance Exp:
    • 8800.00
  • Operating Expense:
    • 4000.00
  • Price Per SQFT:
    • 415.24
  • Tax ID:
    • 7274011030
  • Total Expenses:
    • 113916.00
Neighborhood info courtesy of Homes.com © 2019

What's My Mortgage?

$38,769.95*
*Estimated monthly payment is a starting point to help assist you with your home search. To find out more about mortgage pre-qualification, click here.
Gail Foor
Gail Foor
request more info.

1060 OLIVE Avenue Long Beach, CA 90813

239113740 33.780178 -118.18254 124 /listing/239113740-150586581/1060-olive-avenue-long-beach-ca-90813 False 0 5095000.0 105 19464906 False
  • $5,095,000
  • 13,048 lot
  • Est payment $27351.06/mo