936 Olive Avenue Long Beach, CA 90813
Multi-Family (2-4 Units)
MLS #: SB24215096
Courtesy Of Buckingham Investments, Inc.
$2,080,000
4 beds
|
10 baths
|
5,699 sq ft
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Estimated monthly payments:
$9,092/mo.* (recalculate)
Property InformationDescription
10-Unit Property in the Densely Populated North East Village Neighborhood
This 10-unit property is located in the highly desirable North East Village neighborhood. Priced at $208K per unit, it is fully stabilized, operating with a 10.60 gross rent multiplier (GRM) and a 6% capitalization rate based on current rental income. The unit mix consists of 7 studios, 2 one-bedroom units, and 1 two-bedroom unit. At market rental income, the GRM improves to 9.79, and the cap rate rises to 6.5%.
All units have been remodeled, and both the roof and electrical panel were updated in 2024. The building is master-metered with a RUBS (Ratio Utility Billing System) in place, currently covering 60% of utility expenses. Additionally, an onsite coin-operated laundry room provides extra income and convenience for tenants.
Centrally located near St. Mary Medical Center, downtown Long Beach, the beach, and major freeways, this property offers excellent accessibility. It is a rare opportunity to acquire a turn-key asset at an attractive value.
This 10-unit property is located in the highly desirable North East Village neighborhood. Priced at $208K per unit, it is fully stabilized, operating with a 10.60 gross rent multiplier (GRM) and a 6% capitalization rate based on current rental income. The unit mix consists of 7 studios, 2 one-bedroom units, and 1 two-bedroom unit. At market rental income, the GRM improves to 9.79, and the cap rate rises to 6.5%.
All units have been remodeled, and both the roof and electrical panel were updated in 2024. The building is master-metered with a RUBS (Ratio Utility Billing System) in place, currently covering 60% of utility expenses. Additionally, an onsite coin-operated laundry room provides extra income and convenience for tenants.
Centrally located near St. Mary Medical Center, downtown Long Beach, the beach, and major freeways, this property offers excellent accessibility. It is a rare opportunity to acquire a turn-key asset at an attractive value.
Features
- Age: Over 50 Years Old
- Amenities: Dock
- Architecture Style: Other
- Floor Covering: Vinyl
MAP & DIRECTIONS
School Information
936 Olive Avenue, Long Beach, CA 90813
Elementary School
Grades KG-5 |
Public School
OROPEZA ELEMENTARY SCHOOL
Long Beach, CA 90813
700 Locust Ave
562.436.4420
Distance: 0.5 mi
School Rating
C
Student:Teacher Ratio
25:1
Total Students
662
Middle School
Grades 6-8 |
Public School
FRANKLIN CLASSICAL MIDDLE SCHOOL
Long Beach, CA 90802
540 Cerritos Ave
562.435.4952
Distance: 0.4 mi
School Rating
C-
Student:Teacher Ratio
25:1
Total Students
1200
High School
Grades 9-12 |
Public School
POLYTECHNIC HIGH SCHOOL
Long Beach, CA 90813
1600 Atlantic Ave
562.591.0581
Distance: 0.6 mi
School Rating
B-
Student:Teacher Ratio
25:1
Total Students
4002
| Other Nearby Schools | Distance | Type | Grades | School Rating |
|---|---|---|---|---|
| St Anthony High School | 0.3 mi | Private | 9-12 | |
| Montessori On Elm | 0.3 mi | Private | 1-4 | |
| Lincoln Elementary School | 0.3 mi | Public | KG-5 | B- |
| St Anthony Elementary School | 0.3 mi | Private | PK-8 | |
| Robert Louis Stevenson Elementary School | 0.4 mi | Public | KG-5 | C+ |
| Clear Passage Educational Center | 0.4 mi | Public | 9-12 | |
| Renaissance High School For The Arts | 0.5 mi | Public | 9-12 | B- |
| Roosevelt Elementary School | 0.6 mi | Public | KG-5 | B |
| Huntington Academy | 0.7 mi | Private | PK-5 | |
| We The People High School | 0.8 mi | Public | 9-12 | |
| Intellectual Virtues Academy | 0.8 mi | Public | 9-12 | C |
| Washington Middle School | 0.9 mi | Public | 6-8 | D+ |
| John G. Whittier Elementary School | 0.9 mi | Public | KG-5 | C |
| Educational Partnership High School | 1.0 mi | Public | 9-12 | D |
| Burbank Elementary School | 1.1 mi | Public | KG-5 | B- |
| Edison Elementary School | 1.1 mi | Public | KG-5 | B- |
| Alvarado Elementary School | 1.1 mi | Public | KG-5 | A- |
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.
Demographic Data
Long Beach, CA 90813
| Median Age: | 31.6 |
|---|---|
| Married: | 33% |
| Number of Households: | 16,791 |
| Households with Children: | 40.7% |
Long Beach, CA 90813
Demographic Data
-
Occupancy Types
- 0 Vacant
- 0 Owned
- 0 Rented
-
Transportation to Work
- 0 Drive
- 0 Public Transportation
- 0 Walk / Bike / Other
- 0 Work at Home
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