736 744 Olive Avenue Long Beach, CA ^$ 3,695,000

736 744 Olive Avenue

^$ 3,695,000

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736 744 Olive Avenue

Long Beach, CA, 90813

^$ 3,695,000

Bedrooms32 Baths4.0 Sq 9,679

Monthly Estimate*

^$ 25,811

Listed by Keller Williams - Santa Monica

736 744 Olive Avenue, Long Beach, CA 90813 - Image 1

736 744 Olive Avenue, Long Beach, CA 90813 - Image 2

736 744 Olive Avenue, Long Beach, CA 90813 - Image 3

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736 744 Olive Avenue, Long Beach, CA 90813 - Image 5

736 744 Olive Avenue, Long Beach, CA 90813 - Image 6

736 744 Olive Avenue, Long Beach, CA 90813 - Image 7

736 744 Olive Avenue, Long Beach, CA 90813 - Image 8

736 744 Olive Avenue, Long Beach, CA 90813 - Image 9

736 744 Olive Avenue, Long Beach, CA 90813 - Image 10

736 744 Olive Avenue, Long Beach, CA 90813 - Image 11

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736 744 Olive Avenue, Long Beach, CA 90813 - Image 16

Multi-Family Home for sale in Long Beach, CA

for $3,695,000 with 32 bedrooms and 4 full baths. This 9,679 square foot home was built in 1927 on a lot size of 0.2872.

736-742 Olive is a 12-unit apartment building located in Long Beach, CA. The property is priced at a 6.0% cap rate and an 11.56 GRM on current rents. Built in 1927, the property includes (2) studios, (1) 5BD/2BA unit, and (9) 3BD/1BA units. Parking is available on-site with eight (8) garages and eight (8) surface spaces. The majority of the units have been updated with new flooring, paint and countertops. New ownership can generate additional upside by converting garages to ADUs, without losing surface parking in the interior courtyards. With a 91 Walk Score, the asset is well located near vibrant Downtown Long Beach and Alamitos Beach.

Multi-Family Active

Price

^$ 3,695,000

Bedrooms

Full Bath

Property Type

Multi-Family

Taxes

^$ 0

Style

MixedUse

Lot Size

0.2872

Year Built

1927

Town/City

Long Beach

County/Region

Los Angeles

MLS | Web ID

PW23229182

Days on Market

145

Features

General

Sewer PublicSewer

Zoning LBR4R

Garage Spaces 8.0

Pool Features None

Year Built 1927

Property SubType MixedUse

Gross Income 310116.0

Community Features Sidewalks

Additional Parcels Description 7274020036

County Los Angeles

Net Operating Income 221589.0

Operating Expense 88527.0

Insurance Expense 7797.0

New Construction N

Property Type ResidentialIncome

HOA / Comm Assn N

Attached Garage N

Subdivision Name Alamitos Beach (AB)

Garage Y/N Y

Special Listing Conditions Standard

Status Active

Directions E 7th St

City Long Beach

Entry Location 1

View Y/N N

Senior Community Y/N N

Open Parking Spaces 8.0

Total Units 12

MLS Area 4 - Downtown Area Alamitos Beach

Lot Size Square Feet 12509.0

Private Pool N

Waterfront Y/N N

Carport Y/N N

Street Name Olive

Listing Terms Cash CashtoNewLoan Item1031Exchange

Property Attached Y/N Y

Land Lease Y/N N

Electric Expense 1825.0

Home Warranty Y/N N

Fuel Expense 1825.0

Trash Expense 1825.0

Water Sewer Expense 1825.0

Lease Renewal Y/N N

Additional Parcels Y/N Y

Lease Considered Y/N N

Rent Control Y/N Y

Days on Market 116

Building Area Units SquareFeet

Standard Status Active

Year Built Source Assessor

Tax Lot 6

Property Sub Type Additional MixedUse

Taxes 45916.0

Cap Rate 6.0

Exterior

Lot Features Item1115UnitsAcre

Water Source Public

Total Parking 16.0

Lot Size Area 12509.0

Number of Buildings 4

Spa N

Building Area Total 9679.0

Lot Size Acres 0.2872

Lot Size Units SquareFeet

Lot Size Source Assessor

Number of Separate Water Meters 1

Number of Separate Gas Meters 12

Number of Separate Electric Meters 12

Crops Included Y/N N

Open Parking Y/N N

Horse Y/N N

Irrigation Water Rights Y/N N

Interior

Total Stories 2

Common Walls Item2CommonWalls

Basement (Y/N) N

Air Conditioning Y/N N

Heating Y/N N

Fireplace Y/N N

Street Suffix Avenue

Laundry Features LaundryRoom

Entry Level 1

Electric On Property Y/N N

Internal Only

Street Number 1 736

* Excluded Features

List By

Keller Williams - Santa Monica

Broker

(310) 774-3740

Phone

Affordability Calculator

$25,811

Per Month

Monthly Principal & Interest: $25,811
Monthly Property Taxes: --
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Long Beach, CA

Average List Price ^$2,090,646

Percent of Sale Price 43%

About Long Beach, CA

470,090 Population

2% Since 2002

^$57,916 Median Income

35.78 Median Age

30% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

273443 Elementary School

272636 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
12/22/2023	$3,695,000		Listed Price

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736 744 Olive Avenue, Long Beach, CA, 90813 is a Multi-Family Home for sale at $3,695,000 with 9,679 sqft and a lot size of 0.2872. 736 744 Olive Avenue has 32 bedrooms, 4.0 baths, and was built in 1927. The property's zip code is 90813 which is in Long Beach, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the California Regional Multiple Listing Service, Inc..

Based on information from California Regional Multiple Listing Service, Inc. as of 5/15/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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736 744 Olive Avenue

Multi-Family Home for sale in Long Beach, CA

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