936 Olive Avenue, Long Beach, CA 90813

• 1 bed |
• 4 baths

Property Description

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 9.67Gross Rent Multiplier (GRM) and a 6.1% cap rate based on current rents. At market rent levels, the GRM improves to 8.77, and the cap rate increases to 7.0%. The unit mix includes 7 studios, 2 one-bedrooms, and 1 two-bedroom unit. All units have been remodeled, and major upgradesincluding a new roof and updated electrical panelwere 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. Dont miss this rare opportunity to acquire a turnkey asset at an attractive price. (Virtual Staging)

Listing Status:

Active

Listing Office:

Buckingham Investments, Inc : 310 982-7055

Listing Agent:

Nina Le : 818-415-9362

MLS ID:

SB25126631

Interior

• A/C: Attic Fan

Exterior

• General: N/K
• Pool: N/K

Construction

• General: 2 Story

Location

• Originating MLS: California Regional MLS
• County: Los Angeles

Lot

• Zoning: Assessor7274022018

Financial

• Source: California Regional MLS

This listing courtesy of Nina Le, Buckingham Investments, Inc