1209 Olive Ave - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$1,312,000 USD
424-405-3826
1209 Olive Ave, Long Beach, CA for Sale
$1,312,000 USD
Apartments - FOR SALE
1/3
null | 6.52% Cap Rate

1209 Olive Ave
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • Six-unit property comprising a three-bed/two-bath home, a two-bed/one-bath home, and a fourplex with all one-bed/one-bath units
  • Property offers on-site laundry
  • Located on the border of the Poly High and Cambodia Town neighborhoods walkable to grocery stores and retail (WalkScore: 91)
  • Offered as part of a Long Beach portfolio sale along with 2032 Pine Avenue, an eight-unit complex, and 1151 Pacific Avenue, a fourplex

OVERVIEW

Marcus & Millichap is pleased to present to market 1209 Olive Avenue, a six-unit multifamily investment property in Long Beach, California. This offering comprises a desirable mix of a three-bed/one-bath home in the front, a two-bed/one-bath home in the middle, and a rear two-story fourplex with all one-bed/one-bath units. The units are separately metered for gas and electricity, and the property also offers shared on-site laundry. 1209 Olive Avenue is located on the border of the Poly High and Cambodia Town neighborhoods near the intersection of Anaheim Street and Atlantic Avenue and proximate to retail (WalkScore: 91). Current rents offer a new investor 13 percent rental upside. 1209 Olive Avenue is offered as part of a Long Beach portfolio sale along with 2032 Pine Avenue, an eight-unit complex, and 1151 Pacific Avenue, a fourplex. Properties available separately or together.

FOR SALE DETAILS

PRICE

$1,312,000 USD

PRICE/SF

$371 USD /SF

# OF UNITS

6

PRICE/UNIT

$218,667

CAP RATE

6.52%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1928

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,501 SF

ZONING

LBR4R

APN/PARCEL ID

7274-003-010

ASK ABOUT THIS PROPERTY

Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.