1846 Olive Ave.

Great proximity to Downtown Long Beach, only a few blocks from Long Beach City College.

Clean, well-managed building, shows true pride of ownership.

Many units for the price with 4 studio units, and 6 one bedroom units.

Select studio units have received deluxe remodels, including relocating kitchens to the main living area, creating a small bedroom, quartz countertops, new cabinets, new laminate flooring, and remodeled bathrooms.

Owner will continue upgrades in same style at new buyer’s request.

Four garages plus a laundry room for additional income.

Leased solar panels provide clean power generation for this master metered building, buyer to assume solar lease.

10% upside in rents plus an opportunity to cut expenses by adding additional solar panels.

Dense rental market with low vacancy rate and strong income.

Please drive by only. Do not contact occupants.

Unit Mix: 4 -  Studio, 1BA
6 - 1BD/1BA 
Monthly GSI: $11,700

 

Status: 
Sold
Price: 
$1,700,000
Units: 
10
Annual Income: 
$139,380
Vacancy Rate: 
5%
Annual Expenses: 
$55,067
Annual NOI: 
$84,313
# of Units# of Bedrooms# of BathsUnit FurnishedGarageActual RentTotal RentPro Forma
411$6000$7200
601$4000$4200
RoofStorage$300$300
$10,300$11,700
Display on active list and featured list: