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727 Olive Ave 11 Unit Apartment Building $2,175,000 ($197,727/Unit) 6.90% Cap Rate Long Beach, CA 90813
Investment Highlights
- PRICED TO SELL AT 9.5 GRM AND 6.9% CAP AGAINST IN PLACE RENTS WITH UPSIDE.
- Modern electrical - Buyer to verify.
- 5 Garages with ADU Potential - add 2 Units - Buyer to verify.
- 8 of 10 units heavily updated with new kitchens, baths, flooring, etc.
- Upside to a 9 GRM and 7.2% CAP.
- EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
Executive Summary
PRICED TO SELL AT 9.5 GRM AND 6.9% CAP AGAINST IN PLACE RENTS WITH UPSIDE.
11 units in Long Beach NOT subject to rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7%). Long Beach has undergone major redevelopment with over $8BB of new projects in the past few years. The property is professionally managed and well maintained with onsite laundry.
The property features 3 structures total. 7 units in the front building, a SFR (2/1) in the middle of the property and 2 units in the rear over parking. There are 10 1 bedroom units and a 2 bedroom/1 bath house. 8 of 10 units have been heavily updated with new paint, flooring, kitchen cabinets and bathrooms. There are 5 garages in the rear and 2 surface spaces which is an added bonus given how limited parking is in Long Beach. Additionally, a Buyer could convert the 5 rear garages to ADU's if they choose - adding another 2 units - Buyer to verify.
The property features updated electrical (Buyer to verify) and plumbing has been updated as interior updates have been made. All windows are updated as well.
Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. Additionally, Long Beach Airport is going through a $37MM overhaul in preparation for the 2028 Olympics.
This property is perfect for an investor looking for a building with most of the heavy lifting done. Yet there is still some upside left to a 9 GRM and 7.2% CAP.
Loan quote provided by David Guevara - dguevara@momentacg.com.
EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
11 units in Long Beach NOT subject to rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7%). Long Beach has undergone major redevelopment with over $8BB of new projects in the past few years. The property is professionally managed and well maintained with onsite laundry.
The property features 3 structures total. 7 units in the front building, a SFR (2/1) in the middle of the property and 2 units in the rear over parking. There are 10 1 bedroom units and a 2 bedroom/1 bath house. 8 of 10 units have been heavily updated with new paint, flooring, kitchen cabinets and bathrooms. There are 5 garages in the rear and 2 surface spaces which is an added bonus given how limited parking is in Long Beach. Additionally, a Buyer could convert the 5 rear garages to ADU's if they choose - adding another 2 units - Buyer to verify.
The property features updated electrical (Buyer to verify) and plumbing has been updated as interior updates have been made. All windows are updated as well.
Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. Additionally, Long Beach Airport is going through a $37MM overhaul in preparation for the 2028 Olympics.
This property is perfect for an investor looking for a building with most of the heavy lifting done. Yet there is still some upside left to a 9 GRM and 7.2% CAP.
Loan quote provided by David Guevara - dguevara@momentacg.com.
EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$228,000
|
$33.57
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$228,000
|
$33.57
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $228,000 |
| Annual Per SF | $33.57 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $228,000 |
| Annual Per SF | $33.57 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $2,175,000 | Apartment Style | Low-Rise |
| Price Per Unit | $197,727 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.90% | Building Size | 6,792 SF |
| Gross Rent Multiplier | 9.5 | Average Occupancy | 100% |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1923/2020 |
| Property Subtype | Apartment | Parking Ratio | 1.03/1,000 SF |
| Zoning | PD-30 - Downtown Long Beach | ||
| Price | $2,175,000 |
| Price Per Unit | $197,727 |
| Sale Type | Investment |
| Cap Rate | 6.90% |
| Gross Rent Multiplier | 9.5 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 6,792 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1923/2020 |
| Parking Ratio | 1.03/1,000 SF |
| Zoning | PD-30 - Downtown Long Beach |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | 435 |
| 1+2 | 1 | - | - |
Very walkable
80/100
Moderately drivable
70/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 7274-020-012 | Improvements Assessment | $883,263 |
| Land Assessment | $1,634,472 | Total Assessment | $2,517,735 |
Property Taxes
Parcel Number
7274-020-012
Land Assessment
$1,634,472
Improvements Assessment
$883,263
Total Assessment
$2,517,735
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727 Olive Ave