$2,500,000
1065 Olive Avenue, Long Beach 90813
8
Beds
6
Baths
6,517
Lot Size
5
# Of Units
Listing Agent
Melissa Mccrone - The RECollectiveExcellent investment opportunity!!! It consists of 3 structures with a total of 5 units that have been completely remodeled and furnished from top to bottom making it comfortable and welcoming stay for all tenants and guests. The property is very safe and secure offering an ADT and camera system, flood lights, and security gates. All units are individually metered for electric, water, gas, and have their own mini-split system for heating and cooling. Other amenities include tankless water heaters, electric car chargers, private outdoor patio space, parking, and high-speed Wi-Fi. The 3bed/2bath is currently permitted for Airbnb and the Traveling Nurses Program which is the perfect opportunity for short term rentals with little to a no vacancy ratio. Located within walking distance to St. Mary's Hospital where more than 50% of the employees are traveling from out of state. This location is within a 15-minute walking distance to popular Long Beach tourist attractions which include the Convention Center, Shoreline Village, Aquarium of the Pacific, Queen Mary, Pine St, beach, restaurants, and much more. Property has appraised at $6,000,000 based on the Income Approach Analysis. Income and Expense Report is available upon request. See video for general info income analysis. Buyers can potentially refinance after presenting T12 financial reports to lenders. Call today to schedule a private showing!
Facts & Features
| MLS® # | PW24066073 |
|---|---|
| Price | $2,500,000 |
| Bedrooms | 8 |
| Bathrooms | 6.00 |
| Lot Size | 6,517 |
| Year Built | 1963 |
| Type | Residential Income |
| Sub-Type | Mixed Use |
| Status | Active |
| # Of Units | 5 |
Community Information
| Address | 1065 Olive Avenue |
|---|---|
| Area | 4 - Downtown Area, Alamitos Beach |
| Subdivision | Downtown (DT) |
| City | Long Beach |
| County | Los Angeles |
| Zip Code | 90813 |
Amenities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected, Cable Connected |
|---|---|
| Parking Spaces | 6 |
| Parking | Driveway |
| Garages | Driveway |
| Is Waterfront | No |
| Has Pool | No |
| Pool | None |
Interior
| Interior | Laminate |
|---|---|
| Interior Features | All Bedrooms Down |
| Appliances | Dishwasher, Gas Oven, Dryer, Washer |
| Heating | Ductless |
| Cooling | Ductless |
| Has Basement | No |
| Fireplace | No |
| Fireplaces | None |
| # of Stories | 1 |
| Stories | One |
Exterior
| Lot Description | 0-1 Unit/Acre |
|---|
Additional Information
| Date Listed | April 2nd, 2024 |
|---|---|
| Days on Market | 27 |
| Zoning | LBR4R |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Melissa Mccrone |
|---|---|
| Office | The RECollective |