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1209 Olive Ave 6 Unit Apartment Building $1,312,000 ($218,667/Unit) 6.52% Cap Rate Long Beach, CA 90813
INVESTMENT HIGHLIGHTS
- Six-unit property comprising a three-bed/two-bath home, a two-bed/one-bath home, and a fourplex with all one-bed/one-bath units
- Located on the border of the Poly High and Cambodia Town neighborhoods walkable to grocery stores and retail (WalkScore: 91)
- Property offers on-site laundry
- Offered as part of a Long Beach portfolio sale along with 2032 Pine Avenue, an eight-unit complex, and 1151 Pacific Avenue, a fourplex
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present to market 1209 Olive Avenue, a six-unit multifamily investment property in Long Beach, California. This offering comprises a desirable mix of a three-bed/one-bath home in the front, a two-bed/one-bath home in the middle, and a rear two-story fourplex with all one-bed/one-bath units. The units are separately metered for gas and electricity, and the property also offers shared on-site laundry.
1209 Olive Avenue is located on the border of the Poly High and Cambodia Town neighborhoods near the intersection of Anaheim Street and Atlantic Avenue and proximate to retail (WalkScore: 91).
Current rents offer a new investor 13 percent rental upside.
1209 Olive Avenue is offered as part of a Long Beach portfolio sale along with 2032 Pine Avenue, an eight-unit complex, and 1151 Pacific Avenue, a fourplex. Properties available separately or together.
1209 Olive Avenue is located on the border of the Poly High and Cambodia Town neighborhoods near the intersection of Anaheim Street and Atlantic Avenue and proximate to retail (WalkScore: 91).
Current rents offer a new investor 13 percent rental upside.
1209 Olive Avenue is offered as part of a Long Beach portfolio sale along with 2032 Pine Avenue, an eight-unit complex, and 1151 Pacific Avenue, a fourplex. Properties available separately or together.
PROPERTY FACTS
| Price | $1,312,000 | Apartment Style | Low-Rise |
| Price Per Unit | $218,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 6.52% | Building Size | 3,540 SF |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1928 |
| Property Subtype | Apartment | Parking Ratio | 0.56/1,000 SF |
| Zoning | LBR4R | ||
| Price | $1,312,000 |
| Price Per Unit | $218,667 |
| Sale Type | Investment |
| Cap Rate | 6.52% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 3,540 SF |
| No. Stories | 1 |
| Year Built | 1928 |
| Parking Ratio | 0.56/1,000 SF |
| Zoning | LBR4R |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 1 | - | - |
| 3+2 | 1 | - | - |
1 1
Walk Score®
Walker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 7274-003-010 | Improvements Assessment | $330,141 |
| Land Assessment | $768,526 | Total Assessment | $1,098,667 |
PROPERTY TAXES
Parcel Number
7274-003-010
Land Assessment
$768,526
Improvements Assessment
$330,141
Total Assessment
$1,098,667
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1209 Olive Ave
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