1846 Olive Avenue

    Long Beach, CA 90806
    • $1,875,000
    • STATUS: Active Under Contract
    • ON SITE: 6 days
    • ID#: SB18164447
    Under Contract
    UPDATED: 34 min ago
    $1,875,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,556
      SQFT
    • $412
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1923
    County:

    School Ratings & Info

    Description

    We are pleased to present 1846 Olive Avenue, a large 10 Unit Income Producing Property with 4 garages, storage and laundry for additional cash flow. Located in the Poly Neighborhood of Long Beach, this property is comprised of 1 2 bed/1bath units and 5 1bed/1bath unit and 4 Studios. Owner's have invested to upgrade all units, exterior, and installed solar panels to improve operational efficiency. Priced at 12.81 GRM and a 5% Cap Rate on current rents, 1846 Olive offers investors a chance to own a professionally managed, stable, cash flowing asset with upside.Solar Panels Leased from Solar City have been installed Listing Agent is Related to Owner

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-07-18T21:28:00.643. 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.
    www.playavistaliving.com/homes/85480934

    1846 Olive Avenue Long Beach, CA 90806

    • Price: $1,875,000
    • Status: Active Under Contract
    • Updated: 34 min ago
    • ID#: SB18164447
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    4,556
    SQFT
    $412
    $/SQFT
    1923
    Built
    Neighborhood:
    Poly High (Ph)
    County:
    Los Angeles
    Area:
    9 - Poly High
    Property Description
    We are pleased to present 1846 Olive Avenue, a large 10 Unit Income Producing Property with 4 garages, storage and laundry for additional cash flow. Located in the Poly Neighborhood of Long Beach, this property is comprised of 1 2 bed/1bath units and 5 1bed/1bath unit and 4 Studios. Owner's have invested to upgrade all units, exterior, and installed solar panels to improve operational efficiency. Priced at 12.81 GRM and a 5% Cap Rate on current rents, 1846 Olive offers investors a chance to own a professionally managed, stable, cash flowing asset with upside.Solar Panels Leased from Solar City have been installed Listing Agent is Related to Owner
    Exterior Features

    Garage Spaces 4.00 Lot Features Near Public Transit Lot Size Source Assessor Lot Size Units Square Feet Parking Total 4.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features Community Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 5.00 Community Features Urban Country Us Electric Photovoltaics Third-Party Owned Electric Expense 1800.00 Elevation Units Feet Fuel Expense 1800.00 Gross Income 146340.00 Gross Multiplier 12.81 Gross Scheduled Income 146340.00 Insurance Expense 4000.00 Land Lease YN No Laundry Equipment Own Lease Own Laundry Income 1440.00 Laundry YN Yes Net Operating Income 94005.00 New Taxes Expense 23438.00 Number Of Separate Electric Meters 1 Number Of Separate Gas Meters 10 Number Of Separate Water Meters 1 Number Of Units Leased 10 Operating Expense 52335.00 Other Income1 4800.00 Professional Management Expense 8766.00 Rent Control YN No Senior Community YN No Special Listing Conditions Standard Subdivision Name Other Poly High (Ph) Total Actual Rent 12075.00 Total Expenses 43404.00 Trash Expense 1800.00 Water Sewer Expense 1800.00 Water Source Public Zoning Lbr1n

    Listing provided courtesy of John Alden of Buckingham Investments, Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-07-18T21:28:00.643. 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.
     
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