1127 Olive Avenue
Long Beach, CA 90813
- – beds
- – baths
- – sqft
- ~1/2 acre lot
- 1921 build
- – on site
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.
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Last updated Dec 6, 2023
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MLS# PW23215566 —
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
11/22/23
Nov 22, 2023
|
Listed / Active | CRMLS_CA | $2,200,000 |