732 Olive Ave
Long Beach, CA 90813
Multifamily Property For Sale
·
9 Units
Property Facts
| No. Units | 9 | Building Size | 5,760 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1985 |
| Building Class | C | Parking Ratio | 3.47/1,000 SF |
| Lot Size | 0.14 AC | ||
| Zoning | RR4R, Long Beach | ||
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 5,760 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1985 |
| Parking Ratio | 3.47/1,000 SF |
| Zoning | RR4R, Long Beach |
Amenities
Unit Amenities
- Balcony
Site Amenities
- Laundry Facilities
- Security System
About 732 OLIVE AVE , LONG BEACH, CA 90813
The subject property is a great investment opportunity in the City of Long Beach. Centrally located in a high demand residential neighborhood, the property is surrounded is within walking distance to school, museum, shopping area as well as transportation. It is within minutes from 710 freeway & 22 freeway providing tenants with convenient access to employment bases in both Los Angeles and Orange counties. The well-maintained building was built in 1985 and consists of 9 units. The unit mix consists of one 2Bdr 2Bath Townhouse unit and seven 1Bdr 1Bath units. The building is a three-story wood frame structure and the units are separately metered for gas & electricity and have balconies. There are 10 garages in side of the building and 1 garage the back of the building. There are additional spaces to park in front of the garages. There are 3 large storages unit and an onsite laundry room which occupied by the owner could be rented for additional income. Most of the units have been upgraded with newer counter top and floor. Rents are low and it offers a hand-on owner with strong upside potential. The property has an assumable low interested rate loan approximately $1.09M fixed at 4.14% till November 1, 2024.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | $1,150 | 576 |
| 2+2 | 1 | $1,300 | 1,152 |
Property Taxes
| Parcel Number | 7274-020-040 | Improvements Assessment | $663,732 |
| Land Assessment | $1,539,413 | Total Assessment | $2,203,145 |
Property Taxes
