1065 Olive Avenue

Long Beach, CA 90813

$2,500,000
Price
8
Beds
6
Baths
2,726 Sq. Ft.
$917 / Sq. Ft.
2,726
Sq. Ft.
$917
per Sq. Ft.

Description

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,...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 (tinyurl.com/ycyzh57k) 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. tinyurl.com/375sdhar. Buyers can potentially refinance after presenting T12 financial reports to lenders. Call today to schedule a private showing!
  1. Listed by Melissa McCrone • DRE #01852718 • Brokerage DRE #02046359 • The RECollective • 562-972-9742

Property Details for 1065 Olive Avenue

Parking Spaces Total
6
Private Pool
No
Cooling Type
Ductless
Total Units
5.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
2726
Assessor Parcel Number
7274-012-019

Location

Listing Courtesy of The RECollective, Melissa McCrone, DRE #01852718
Add your commute
LISTING UPDATED: 04/29/2024 10:33 AM

Property Details for 1065 Olive Avenue

StatusActive
MLS #PW24066073
Days on Market25
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1963
Lot Size0.15 AC / 6,517 SF
CountyLos Angeles County

Location

Listing Courtesy of The RECollective, Melissa McCrone, DRE #01852718
Add your commute

Virtual Tour

Building Information for 1065 Olive Avenue

Stories1Residences-Year Built1963Building Size-Lot Size0.15 AC / 6,517 SF

Payment Calculator

$14,629 per month

30 year fixed, 7.25% Interest

Principal and Interest

$13,644

Property Taxes

$985

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1065 Olive Avenue

Rental Info
Rental Info
  • Tenant Pays: All Utilities
Income / Expense / Tax Details
Income Details
  • Gross Income: $358,200
  • Gross Scheduled Income: $358,200
  • Vacancy Allowance Rate: 10
  • Net Operating Income: $273,705
Expense Details
  • Operating Expense: $84,495
  • Fuel Expense: $0
  • Insurance Expense: $3,200
  • Professional Management Expense: $0
  • Trash Expense: $696
  • Water Sewer Expense: $0
  • Total Expenses: $84,495
Tax / Assessment Info
  • Tax Block: 13
  • Tax Tract Number: 11-933
  • Tax Census Tract: 5763.02
  • Tax Lot: 18
Community / Development
Community / Development
  • Accessibility Features: None
  • Disability Access: None
  • Community Features: Sidewalks, Street Lights
Property / Structure Info
Interior Features
  • Appliances: Dishwasher, Gas Oven
  • Equipment: Community, Dishwasher, Dryer, Dryer Included, In Kitchen, Washer, Washer Included
  • Room Type: All Bedrooms Down
  • Bedroom Features: All Bedrooms Down
  • Laundry: Yes
  • Laundry Features: Community, Dryer Included, In Kitchen, Washer Included
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Ductless
  • Heating Type: Ductless
  • Heating: Ductless
  • Flooring: Laminate
  • Virtual Tour URL Branded: https://vimeo.com/927427324
Exterior Features
  • Security Features: Security System
  • Entry Location: front and side
  • Fence: Yes
  • Fence: Wood
  • Fencing: Wood
  • Property Condition: Turnkey
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Number Of Units: 5
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: One
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Electric: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Driveway
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Driveway
Property / Structure Info
  • Builders Tract Name: Downtown
  • Builders Tract Code: Downtown (DT)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 10200
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 7800
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 4050
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 4950
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 3900
  • Unit Type Type: 5
Unit Information
  • Number Of Units Leased: 0
  • Rent Controlled: No
  • Number Of Buildings: 3
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 5

Property History for 1065 Olive Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1065 Olive Avenue

Taxable ValueLand$586,500Additions$316,200Total$902,700
Tax Record2023$11,824 ($985 / month)
Home Facts
Total Finished SqFt2,570 SqFtAbove Grade Finished SqFt2,570 SqFtLot Size6,517 SqFtStyleDuplexYear Built1963ZoningLBR4RCountyLOS ANGELESAPN7274-012-019

Schools near 1065 Olive Avenue

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
International Elementary School
PublicK to 5

Franklin Classical Middle School
Public6 to 8

Polytechnic High School
Public9 to 12

Clear Passage Educational Center
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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1065 Olive Avenue is a mixed use property for sale in Long Beach, CA 90813. This property was listed for sale on April 2, 2024 by The RECollective, it's currently listed at $2,500,000. It has been on the market for a total of 25 days and was last sold on October 26, 2021. This listing's school district is Long Beach Unified School District. Nearby schools include International Elementary School, Franklin Classical Middle School and Polytechnic High School. 1065 Olive Avenue is a 8-bed, 6-bath, 2,726 sqft mixed use property built in 1963.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of The RECollective, Melissa McCrone, DRE #01852718

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.