$2,500,000 - 1065 Olive Avenue, Long Beach

  • 8Beds
  • 6Baths
  • 0SQ. Feet
  • 0.15Acres

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!

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Sales Agent

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

Essential Information

  • MLS® #:PW24066073
  • Price:$2,500,000
  • Bedrooms:8
  • Bathrooms:6.00
  • Acres:0.15
  • Year Built:1963
  • Type:Residential Income
  • Sub-Type:Mixed Use
  • Status:Active
  • Listing Agent:Melissa Mccrone
  • Listing Office:The RECollective

Community Information

  • Address:1065 Olive Avenue
  • Area:4 - Downtown Area, Alamitos Beach
  • Subdivision:Downtown (DT)
  • City:Long Beach
  • County:Los Angeles
  • Zip Code:90813

Amenities

  • Utilities:Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected, Cable Connected
  • Parking Spaces:6
  • Parking:Driveway
  • Garages:Driveway
  • Pool:None

Interior

  • Interior:Laminate
  • Interior Features:All Bedrooms Down
  • Appliances:Dishwasher, Gas Oven, Dryer, Washer
  • Heating:Ductless
  • Cooling:Ductless
  • Fireplaces:None
  • # of Stories:1
  • Stories:One

Exterior

  • Lot Description:0-1 Unit/Acre

Additional Information

  • Date Listed:April 2nd, 2024
  • Days on Market:27
  • Zoning:LBR4R

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  • Price Range:
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  • Current Listings:
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Alamitos Beach (ab)

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Based on information from California Regional Multiple Listing Service, Inc. as of May 2nd, 2024 at 11:12am 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.