936 Olive Avenue
Long Beach, CA 90813
Map
- – beds
- – baths
- – sqft
- 6,289 sqft lot
- 1922 build
- – on site
Turnkey 10-Unit Property in Prime North East Village – Priced to Sell! Located in the vibrant and densely populated North East Village neighborhood, this fully stabilized 10-unit property is an exceptional investment opportunity. Priced at just $185K per unit, it is currently operating at a 9.47 Gross Rent Multiplier (GRM) and a 6.2% cap rate based on current rents. At market rent levels, the GRM improves to 8.90, and the cap rate increases to 6.8%. The unit mix includes 7 studios, 2 one-bedrooms, and 1 two-bedroom unit. All units have been remodeled, and major upgrades—including a new roof and updated electrical panel—were completed in 2024. The building is master-metered with a RUBS (Ratio Utility Billing System) in place, currently recapturing 60% of utility expenses. An on-site coin-operated laundry room adds convenience for tenants and generates additional income. The exterior has been freshly painted, enhancing curb appeal. Ideally situated near St. Mary Medical Center, downtown Long Beach, the beach, and major freeways, this property offers excellent accessibility and strong rental demand. Don’t miss this rare opportunity to acquire a turnkey asset at an attractive price. (Virtual Staging)
Last checked:
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Last updated Jun 12, 2025
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MLS# SB25126631 —
The Building
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Year Built:1922
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Year Built Source:Assessor
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New Construction:No
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Building Area Total:5699.00
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Building Area Units:Square Feet
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Total Number Of Units:10
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# of Buildings:10
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Stories Total:2
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Entry Level:1
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Common Walls:No Common Walls
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# of Separate Gas Meters:1
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# of Separate Water Meters:1
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# of Separate Electric Meters:1
Interior
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Levels:Two
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Entry Location:door
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Flooring:Vinyl
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Fireplace:No
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Fireplace:None
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Laundry:Community
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Laundry:1
Location
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Directions:near 10th St. and Martin Luther King Ave.
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Latitude:33.77837300
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Longitude:-118.18232100
The Property
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Property Type:Residential Income
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Subtype:Apartment
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Zoning:LBR4R
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Lot Features:6-10 Units/Acre
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Lot Size Area:6289.0000
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Lot Size Acres:0.1444
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Lot Size SqFt:6289.00
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Lot Size Source:Assessor
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View:None
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Block:2
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Tax Census Tract:5763.02
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Tax Tract:HELLER
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Tax Lot:8
The Listing
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Special Listing Conditions:Standard
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Parcel Number:7274022018
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Showings Begin:2025-06-12
Heating & Cooling
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Heating:1
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Heating:Wall Furnace
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Cooling:Yes
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Cooling:Whole House Fan
Utilities
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Utilities:Electricity Available, Natural Gas Available
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Sewer:Public Sewer
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Water Source:Public
The Community
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Features:Sidewalks
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Pool:None
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Senior Community:No
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Private Pool:No
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Spa Features:None
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Assessments:Yes
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Assessments:Unknown
Parking
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Parking:No
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Parking:None
Extra Units
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Average 1 Bed Area:670
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Average 2 Bed Area:720
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Average Studio Area:520
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 |
|---|---|---|---|---|
|
6/12/25
Jun 12, 2025
|
Listed / Active | CRMLS_CA | $1,850,000 | |
|
10/17/24
Oct 17, 2024
|
Listed / Active | CRMLS_CA |
