$5,095,000 - 1060 Olive Avenue, Long Beach

  • 0Beds
  • Baths
  • 12,270SQ. Feet
  • 0.30Acres

A seamless investment opportunity - an 'easy' acquisition for a novice investor or a painless addition to a seasoned investor's portfolio. The subject property has been extensively and elegantly rehabbed with $400,000 of capital expenditure. The attractive, mid-century modern aesthetic attracts a discerning renter. 10 of the 16 units have been gutted and redone. The owners, admittedly, overspent and it shows. All new surfaces, flooring, fixtures. You name it, it's new. In addition to the interior rehab, the rehabbed units have had A/C installed. On the exterior, the entire façade has been re-imaged. Also, new windows and extensive drought-tolerant landscaping, in front and along both sides of the building. The 1985-built, all 2 Bedroom asset, is 25 years newer than the 'average' Long Beach apartment property; IMMEDIATE UPSIDE TO A 6% CAP WITH JUST MODEST INCREASES TO THE REMAINING 6 UNITS.

Sales Agent

Sam SmithBeach Cities Real EstatePhone: 562-355-8228 Cell: 562-355-8228 Contact Agent Now

Essential Information

  • MLS® #:19464906
  • Price:$5,095,000
  • Bathrooms:0.00
  • Square Footage:12,270
  • Acres:0.30
  • Year Built:1985
  • Type:Residential Income
  • Status:Active

Community Information

  • Address:1060 Olive Avenue
  • Area:Downtown Area, Alamitos Beach (4)
  • City:Long Beach
  • County:Los Angeles
  • State:CA
  • Zip Code:90813

Interior

  • # of Stories:2

Exterior

  • Lot Description:Sprinklers None

Additional Information

  • Date Listed:May 10th, 2019
  • Days on Market:9
  • Zoning:LBR4R

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  • Price Range:
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  • Current Listings:
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Provided By: Brice Head(01330706), Marcus & Millichap.

Based on information from California Regional Multiple Listing Service, Inc. as of May 20th, 2019 at 4:17am CDT. 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.