Active
1065 Olive Avenue
Long Beach CA, 90813
$2,500,000
$917.09 per sqft
Active
2,726 sqft
Multi-family
Built in 1963
Listed by Melissa McCrone with The RECollective 562-980-0505
Excellent investment opportunity!!! It consists of 3 structures with a total of 5 units that have been completely remodeled and furnished from top to bottom making it comfortable and welcoming stay for all tenants and guests. The property is very safe and secure offering an ADT and camera system, flood lights, and security gates. All units are individually metered for electric, water, gas, and have their own mini-split system for heating and cooling. Other amenities include tankless water heaters, electric car chargers, private outdoor patio space, parking, and high-speed Wi-Fi. The 3bed/2bath is currently permitted for Airbnb and the Traveling Nurses Program which is the perfect opportunity for short term rentals with little to a no vacancy ratio. Located within walking distance to St. Mary's Hospital where more than 50% of the employees are traveling from out of state. This location is within a 15-minute walking distance to popular Long Beach tourist attractions which include the Convention Center, Shoreline Village, Aquarium of the Pacific, Queen Mary, Pine St, beach, restaurants, and much more. Property has appraised at $6,000,000 based on the Income Approach Analysis. Income and Expense Report is available upon request. See video for general info income analysis. Buyers can potentially refinance after presenting T12 financial reports to lenders. Call today to schedule a private showing!
PW24066073
MLSⓇ ID
April 2, 2024
Listed
May 1, 2024
Updated
Map
1065 Olive Avenue
Long Beach CA, 90813
Interior Features
Total Stories
1
Interior Features
All Bedrooms Down
Appliances
Dishwasher, Gas Oven, Dryer, Washer
Laundry Description
Common Area, In Kitchen
Floor Description
Laminate
Fireplace
Yes
Fireplace Description
None
Cooling
Yes
Cooling Description
Ductless
Heating
Yes
Heating Description
Ductless
Exterior/Building Features
Lot Size
0.15 Acres
Lot Features
0-1 Unit/Acre
Sewer
Public Sewer
Other Property Details
Area Name
4 - Downtown Area, Alamitos Beach
Days on Market
26
Garage
No
Parking
Driveway
Parking Total
6
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
LBR4R
Buyer Agency Compensation
3.5%
Listing Contact: 562-980-0505
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/1/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 5/1/2024 at 5:40 AM UTC