1127 Olive Avenue, Long Beach, CA 90813

  • $2,200,000
  • $349
1127 Olive Avenue, Long Beach, CA 90813
  • Residential Income
  • Property Type
  • 0.00
  • Garage
  • 1921
  • Year Built
For Sale
1127 Olive Avenue, Long Beach, CA 90813
  • $2,200,000
  • $349

Overview

Property ID: SGR-18021760
  • Residential Income
  • Property Type
  • 0.00
  • Garage
  • 1921
  • Year Built

Description

1135 Olive Ave is a 9 unit apartment building located in Long Beach, California. Constructed in 1921, the subject property contains 6,308 rentable square feet that is placed on a 10,414 square foot lot. Also included is the vacant lot next door, 1127 Olive Avenue, containing a 6,527 square foot lot. The existing units consist of (4) 1 Bed + 1 Bath units and (5) 2 Bed + 1 Bath units.

The vacant land is zoned LBR4R, this subject property provides a multitude of possibilities for development. The property offers economically friendly units that are perfect for the working-class individuals that value being centrally located to all business sectors of Downtown Long Beach, Alamitos Beach, and Downtown Los Angeles. Long Beach has provided a historically strong tenant occupancy, which makes filling vacancies effortless. The City of Long Beach attracts a diverse population of tenants due to its strong growing economy, plethora of music festivals, cultural celebrations, and sporting events.

In the case of a multifamily property, having a mix of unit sizes can provide flexibility for the owner. This allows for different rental pricing tiers, accommodating tenants with varying budgets and needs; which makes 1135 Olive such an attractive investment because it provides (4) 1 bedroom + 1 bath units and (5) 2 bedroom + 1 bath units. The subject property is attractive to a wide tenant pool because it contains a strong unit mix. 2-bedroom apartments with 1 bathroom appeal to a broad range of tenants, including small families, couples, and roommates. This versatility increases the chances of finding suitable tenants quickly, reducing vacancies and maximizing rental income.

1127 & 1135 Olive Avenue is an exceptional investment opportunity for those looking to acquire a quality multi-family property along with a vacant lot of land for development purposes in Long Beach. With its attractive design, convenient location, and functional units, this apartment building is sure to be a desirable destination for renters and a smart investment for its owner.

  • Address 1127 Olive Avenue
  • City Long Beach
  • State/county CA
  • Zip/Postal Code 90813
  • Area 699 - Not Defined
  • Country United States

Details

Updated on April 29, 2024 at 4:46 pm
  • Property ID: SGR-18021760
  • Price: $2,200,000
  • Land Area: 16941.00 m²
  • Garage: 0.00
  • Year Built: 1921
  • Property Type: Residential Income
  • Property Status: For Sale
  • Living Area: 6308.00
  • MLS#: PW23215566
  • Office Name: JUSTIN WHITE
  • Agent Name: Justin White
  • MLS Status: Active
  • Living Area Prefix: Sqft
  • Agent State License: 01267826
  • IDX Contact Info: thesbgbp@gmail.com

Additional details

  • Sewer: Public Sewer
  • County: Los Angeles
  • Property SubType: Commercial/Residential
  • Parking: 0.00
  • Water Source: Public

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