Description
1224 Olive Avenue is a turnkey 6-unit asset located in Long Beach, California, offered at 5.62% cap rate and 12.32 GRM on actuals. The property is comprised of (4) 2BD/2BA units, (1) 2BD/1BA unit, and (1) 1BD/1BA unit on a 6,501-square-foot lot with six (6) surface parking spaces. Over $600,000 in CAPEX has been invested in a full gut renovation of the entire property, including (but not limited to) new roof, upgraded electrical panel, upgraded main line plumbing, and new windows throughout. All units were meticulously renovated with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathroom vanities, tiling, and modern fixtures and features throughout. All units offer in-unit washers and dryers as well as private patios. Two (2) of the units are newly-built ADUs and feature a sizable shared roof deck. The property is conveniently located close to many amenities, and has a Walk Score of 91.
Location
"All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed."
Updated: 1st October, 2023 1:20 AM (UTC)
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed."
Updated: 1st October, 2023 1:20 AM (UTC)
Listing Agent: Robert Stepp
Listing Office: Keller Williams - Santa Monica
