Long Beach, CA 90813,736 744 Olive AVE
Long Beach, CA 90813,736 744 Olive AVE
Long Beach, CA 90813,736 744 Olive AVE
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$3,695,000
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0.29 Acres Lot
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736 744 Olive AVE Long Beach, CA 90813

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UPDATED:

09/30/2024 06:29 PM

Key Details

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Subdivision Alamitos Beach (Ab)

MLS Listing ID PW23229182

HOA Y/N No

Year Built 1927

Lot Size 0.287 Acres

Property Description

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.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Zoning LBR4R

Interior

Fireplace No

Laundry Laundry Room

Exterior

Garage Spaces 8.0

Garage Description 8.0

Pool None

Community Features Sidewalks

Total Parking Spaces 16

Private Pool No

Building

Lot Description 11-15 Units/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7274020038

Energy Description 1825.0

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard


California Regional MLS (CRMLS)
Listed by Robert Stepp • Keller Williams - Santa Monica • 310-463-2916

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Andre Hobbs

San Diego Realtor / Military Veteran | License ID: 01485241

+1(619) 349-5151

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736 744 Olive AVE