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$ 1,199,988
Est. payment /mo
New
1941 Olive Avenue Long Beach, CA 90806
6 Beds
6,550 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Poly High (Ph)
MLS Listing ID OC26003311
Bedrooms 6
Lot Size 6,550 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
1941 Olive is a killer opportunity to lock up a turnkey 4-unit in the heart of Long Beachs extremely desirable Poly High area, just minutes from Signal Hill and a short drive to the ocean. Built in 1920, this property features three separate buildings with 2,554 rentable square feet on a 6,550 SF lot, giving it a rare layout that feels more like private bungalows than a traditional apartment complex. Adding to the curb appeal and privacy is a brand-new vinyl fence, plus 4 detached enclosed garage spaces, a major bonus in this dense rental pocket. The unit mix is strong and highly rentable: (1) 3-bed / 1-bath standalone home and (3) 1-bed / 1-bath units, one of which is also standalone. Every unit has been recently renovated, making this a true plug-and-play investment with no deferred maintenance, perfect for an owner-user or an investor looking to step into immediate cash flow and market rents from day one. Theres also a standalone coin-operated laundry room providing extra income and boosting overall returns. At only $300,000 per unit, this deal offers a low barrier to entry with solid fundamentals, including a 6.74% CAP rate and a 12.5 GRM on current income, exactly the kind of numbers investors are chasing in todays market. With off-street parking, easy access to the 405 and 710 freeways, nearby employment hubs, shopping, dining, and the Long Beach coastline just minutes away, 1941 Olive is a stabilized, cash-flowing asset with long-term upside in one of Long Beachs most active rental corridors.
Location
State CA
County Los Angeles
Zoning Assessor
Direction 405 freeway exit Atlantic and head south, left on east 20th, right on olive, property is on right.
Interior
Heating Floor Furnace
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7210010014
Acceptable Financing Cal Vet, Cash, Conventional, Exchange, FHA, VA
Listing Terms Cal Vet, Cash, Conventional, Exchange, FHA, VA
Listed by Eric Lem Decorum Properties & Investments, Inc
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