Listing Courtesy of Brice Head with Marcus & Millichap
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  • 39
  • 1985
  • 13,048
Under Contract Status Apartment Building
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A seamless investment opportunity - an 'easy' acquisition for a novice investor or a painless addition to a seasoned investor's portfolio. The subject property has been extensively and elegantly rehabbed with $400,000 of capital expenditure. The attractive, mid-century modern aesthetic attracts a discerning renter. 10 of the 16 units have been gutted and redone. The owners, admittedly, overspent and it shows. All new surfaces, flooring, fixtures. You name it, it's new. In addition to the interior rehab, the rehabbed units have had A/C installed. On the exterior, the entire fa~ade has been re-imaged. Also, new windows and extensive drought-tolerant landscaping, in front and along both sides of the building. The 1985-built, all 2 Bedroom asset, is 25 years newer than the 'average' Long Beach apartment property; IMMEDIATE UPSIDE TO A 6% CAP WITH JUST MODEST INCREASES TO THE REMAINING 6 UNITS.

Address: 1060 OLIVE AVE
State: CA
City: Long Beach
County: Los Angeles
Zip Code: 90813
MLS#: 19464906
MLS Area: Downtown Area, Alamitos Beach (4)

Price History

Date Price Event Change MLS#:
5/10/2019 $5,095,000 List Price 19464906

Nearby Schools

Montessori On Elm(Preschool-1)
Lincoln Elementary School(K-5)
Stevenson Elementary School(K-5)
St. Anthony Elementary School(Preschool-8)3
First Baptist Church School(Preschool-12)
St. Anthony Elementary School(Preschool-8)3
Franklin Classical Middle School(6-8)
First Baptist Church School(Preschool-12)
Clear Passage Educational Center(9-12)
Saint Anthony High School(9-12)3
Polytechnic High School(9-12)4
Renaissance High School For The Arts(9-12)4
First Baptist Church School(Preschool-12)

Interior Details

  • Appliances:
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  • Floor Type:
  • Cooling:Wall Unit(S)
  • Heating:Wall Heater
  • Other Rooms:

Exterior Details

  • Home Construction
  • Features:
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  • Garage Spaces:
  • Pool:No
  • Utilities:
  • Lot Description:

Community Details

  • HOA:N $0/mo
    Fees Include:
  • Misc:Standard Sale

Rental Information

  • Rental Income:$0
  • Rental Number:0

Associated Agents

  • Listing Agent:Marcus & Millichap - Brice Head, CalBRE# 01330706

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Property Information Last Updated: 6/19/2019 1:05:31 PM
Listing Courtesy of Brice Head with Marcus & Millichap


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