1846 Olive Ave, Long Beach 90806
Back on Market!
1846 Olive is a 10-unit income producing property located in Poly, CA.
Professionally Managed – owners have stabilized at a 12.83 GRM and 5.0% cap with some upside left for new owner.
All units redone.
4 garages, laundry room and storage for extra income.
Property is master metered with existing solar lease in place for operational efficiencies.
sold
UNITS: 10
GROSS RENT MULTIPLIER: 2%
CAP RATE:
PRICE
$1,875,000
ANNUAL INCOME
$140,100
ANNUAL NOI
$919,357
ANNUAL EXPENSE
$48,165
Rental Cost Details
| # OF UNITS | # OF BEDROOMS | # OF BATHS | ACTUAL RENT | TOTAL RENT | PRO FORMA | TOTAL PRO FORMA |
| 1 | 2 | 1 | $1,450 | $1,450 | $1,600 | $1,600 |
| 2 | 1 | 1 | $1,150 | $2,300 | $2,590 | $5,180 |
| 1 | 1 | 1 | $1,250 | $1,250 | $1,295 | $1,295 |
| 1 | 1 | 1 | $1,295 | $1,295 | $1,295 | $1,295 |
| 1 | 1 | 1 | $1,050 | $1,050 | $1,295 | $1,295 |
| 3 | 0 | 1 | $1,095 | $3,285 | $3,375 | $10,125 |
| 1 | 0 | 1 | $1,045 | $1,045 | $1,125 | $1,125 |
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 10 | 6 | 7 | $11,675 | $21,915 |
