$995,000 - 1224 Olive Avenue, Long Beach

  • 0Beds
  • Baths
  • 3,192SQ. Feet
  • 0.15Acres

1224 Olive Avenue is a four-unit invesment asset in a desirable Long Beach location just North of East Village Arts District, minutes to Downtown Long Beach amenities and employment opportunities. The property offers four spacious two-bedroom units, as well as ample parking of four garages and a parking pad, giving a new owner the opportunity to rent spaces to neighboring tenants for additional income. Offered at a solid 4.32% cap rate on in-place rents, the property provides potential rental upside of +/-18% and gives an investor the opportunity to own an attractive asset in an expanding rental market just outside of Downtown Long Beach. With billions of dollars in privately and publicly-funded development taking place, Long Beach is in the midst of a full-scale transformation into a premier metropolitan city, attracting an influx of new businesses, high-quality jobs and an educated, professional demographic of residents.

Sales Agent

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

Essential Information

  • MLS® #:PW20060189
  • Price:$995,000
  • Bathrooms:0.00
  • Square Footage:3,192
  • Acres:0.15
  • Year Built:1922
  • Type:Residential Income
  • Status:Active

Community Information

  • Address:1224 Olive Avenue
  • Area:Downtown Area, Alamitos Beach (4)
  • Subdivision:Other (OTHR)
  • City:Long Beach
  • County:Los Angeles
  • State:CA
  • Zip Code:90813

Amenities

  • Parking Spaces:8
  • # of Garages:4

Exterior

  • Lot Description:2-5 Units/Acre

Additional Information

  • Date Listed:March 19th, 2020
  • Days on Market:74
  • Zoning:LBR4R

Similar Type Properties to PW20060189, 1224 Olive Avenue, Long Beach

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Similar Neighborhoods to "Other (OTHR)" in Long Beach, California

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Other (othr)

  • City:
    Long Beach
  • Price Range:
    $649,000 - $2,500,000
  • Current Listings:
    14
  • HOA Dues:
    $
  • Average Price per Square Foot:
    $384
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Provided By: Robert Stepp(01456379), Keller Williams Pacific Estate.

Based on information from California Regional Multiple Listing Service, Inc. as of June 2nd, 2020 at 5:36am 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.