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727 Olive Ave
Long Beach, CA 90813 Downtown Long Beach

$2,175,000 USD

Apartments For Sale  •  6,792 SF

Property Details

  • Property Type Apartments
  • Total Building Size 6,792 SF
  • Lot Size 0.17 AC
  • Building Class C
  • Year Built 1923
  • Cap Rate 6.90 %
  • Zoning PD-30
70 Transit Score
80 Walk Score

Highlights

PRICED TO SELL AT 9.5 GRM AND 6.9% CAP AGAINST IN PLACE RENTS WITH UPSIDE.
8 of 10 units heavily updated with new kitchens, baths, flooring, etc.
Modern electrical - Buyer to verify.
Upside to a 9 GRM and 7.2% CAP.
5 Garages with ADU Potential - add 2 Units - Buyer to verify.
EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.

Financial Summary

Cap Rate: 6.90 %

Public Transportation

Transit/SubwayDriveWalkDistance
5th Street Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 2 min 11 min 0.6 mi
Anaheim Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 4 min 15 min 0.8 mi
1st Street Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 3 min 17 min 0.9 mi
Pacific Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 4 min 18 min 0.9 mi
AirportDriveWalkDistance
Long Beach (Daugherty Field) 10 min - 4.2 mi
John Wayne/Orange County 32 min - 20.6 mi
Los Angeles International 33 min - 22.3 mi
Jon Swire 310-948-2631 The Agency
Jon Swire 310-948-2631 The Agency