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1065 Olive Avenue

Long Beach, CA 90813

– beds
– baths
– sqft
6,517 sqft lot
1963 build
– on site

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 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. Buyers can potentially refinance after presenting T12 financial reports to lenders. Call today to schedule a private showing!

Listed By CRMLS_CA / Melissa McCrone / The RECollective / 562-972-9742

Last checked: Checking… • Last updated May 1, 2024 •

MLS# PW24066073 —

The Building

Year Built:

1963
Year Built Source:

Public Records
New Construction:

No
Entry Level:

1
Accessibility Features:

None
Common Walls:

2+ Common Walls
Building Area Total:

2726.00
Building Area Units:

Square Feet
# of Buildings:

3
Total Number Of Units:

5
Stories Total:

1
# of Separate Gas Meters:

5
# of Separate Water Meters:

5
# of Separate Electric Meters:

5

Interior

Levels:

One
Entry Location:

front and side
Flooring:

Laminate
Room Type:

All Bedrooms Down
Fireplace:

No
Fireplace:

None
Laundry:

Community, Dryer Included, In Kitchen, Washer Included
Laundry:

1

Location

Directions:

Anaheim and Olive
Latitude:

33.78024700
Longitude:

-118.18316400

The Property

Property Type:

Residential Income
Subtype:

Commercial/Residential
Property Condition:

Turnkey
Zoning:

LBR4R
Lot Features:

0-1 Unit/Acre
Lot Size Area:

6517.0000
Lot Size Acres:

0.1496
Lot Size SqFt:

6517.00
Lot Size Source:

Assessor
Fencing:

Wood
Fence:

Yes
Security Features:

Security System
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Block:

13
Tax Census Tract:

5763.02
Tax Tract:

11-933
Tax Lot:

18

The Listing

Buyer's Brokerage Compensation:

3.500%
Virtual Tour
Virtual Tour
Special Listing Conditions:

Standard
Buyer's Brokerage Compensation:

$3.50
Parcel Number:

7274012019

Heating & Cooling

Heating:

1
Heating:

Ductless
Cooling:

Yes
Cooling:

Ductless

Utilities

Utilities:

Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Sewer:

Public Sewer
Water Source:

Public

Appliances

Appliances:

Dishwasher, Gas Oven
Included:

Yes

The Community

Subdivision:

Downtown (DT)
Subdivision:

Downtown (DT)
Senior Community:

No
Features:

Sidewalks, Street Lights
Pool:

None
Private Pool:

No
Inclusions:

All appliances and furnishings
Association:

No

Parking

Parking:

Yes
Parking:

Driveway
Parking Spaces:

6.00

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price
4/4/24 Apr 4, 2024	Listed / Active	CRMLS_CA	$2,500,000
10/30/23 Oct 30, 2023	Price Changed	CRMLS_CA
9/20/23 Sep 20, 2023	Listed / Active	CRMLS_CA

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This multifamily located in Saint Mary, Long Beach, CA 90813 is currently for sale for $2,500,000. 1065 Olive Avenue is a – square foot multifamily with – beds and – baths that has been on Estately for 30 days. 1065 Olive Avenue is in the Saint Mary neighborhood of Long Beach and has a WalkScore® of 88, making it very walkable. This multifamily is in the attendance area of Polytechnic High School, International Elementary School, and Franklin Classical Middle School.

Listing Courtesy of: CRMLS_CA and The RECollective. Based on information from California Regional Multiple Listing Service, Inc. as of 14:26 on May 04.

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.

The offer of compensation listed above is made to, and can only be accepted by, participants of the multiple listing service in which this listing is filed.