S
Seller's Agent in 2021
Steve Bogoyevac
Steven M. Bogoyevac, Broker
(562) 257-1231
2 in this area
89 Total Sales
727 Olive Ave Long Beach, CA 90813
Saint Mary's NeighborhoodEstimated Value: $3,213,575
3
Beds
2
Baths
6,792
Sq Ft
$473/Sq Ft
Est. Value
Highlights
- 0.17 Acre Lot
- Laundry Room
- Rectangular Lot
- Long Beach Polytechnic High School Rated A
About This Home
As of March 2021This offering presents an excellent opportunity for an investor to acquire an extensively renovated asset that is generating a strong current return and also capture 17 percent rental upside.
727 Olive Avenue was built in 1923 on a 7,502-square foot lot and consists of a two-bedroom/one-bath house and two two-story apartment buildings that contain 10 one-bedroom/one-bath units. All units are separately metered for gas and electricity. The property has controlled access and offers on-site laundry, five single-car garages, and two surface parking spots that generate additional income.
The property boasts a long list of substantial recent capital expenditures that range from new electrical and a new electrical panel to a new surveillance system, a newer roof, new plumbing in most units, interior upgrades, and much more. Nine of the units have been renovated with new kitchens, modern cabinetry, upgraded flooring, stainless steel appliance packages, tile showers, ceiling fans, and more.
The property is located near the intersection of 7th Street and Alamitos Avenue, proximate to Downtown Long Beach, which has seen major redevelopment in recent years, conveniently near the Metro Blue Line and the 710 Freeway, and less than one mile from the beach.
Last Agent to Sell the Property
Steven M. Bogoyevac, Broker License #01332755 Listed on: 01/11/2021
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1923
Lot Details
- 7,502 Sq Ft Lot
- No Common Walls
- Rectangular Lot
Parking
- 2 Open Parking Spaces
- 5 Car Garage
Home Design
- 6,792 Sq Ft Home
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Additional Features
- Laundry Room
- Suburban Location
Listing and Financial Details
- Legal Lot and Block 2 / 26
- Assessor Parcel Number 7274020012
Community Details
Overview
- 3 Buildings
- 11 Units
Amenities
- Laundry Facilities
Building Details
- 11 Separate Electric Meters
- 11 Separate Gas Meters
- Operating Expense $57,543
- Gross Income $181,980
- Net Operating Income $119,217
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Dec 1, 2015
Sold by
Rykg1 Llc
Bought by
200 Blanchard Street Llc
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$850,000
Interest Rate
3.92%
Mortgage Type
Commercial
Purchase Details
Closed on
Oct 8, 2008
Sold by
Thornburgh Robert G and Thornburgh Yvonne
Bought by
Rykgi Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Interest Rate
5.9%
Mortgage Type
Commercial
Purchase Details
Closed on
Dec 28, 2007
Sold by
Thornburgh Robert G
Bought by
Rykgi Llc
Purchase Details
Closed on
Apr 22, 2003
Sold by
Thornburgh Robert G and Thornburgh Yvonne
Bought by
Thornburgh Robert G and Thornburgh Yvonne
Purchase Details
Closed on
Oct 26, 1998
Sold by
Dayle Wanda R Tr Dayle Family Trust
Bought by
Thornburgh Robert G
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$150,000
Interest Rate
6.84%
Mortgage Type
Commercial
Purchase Details
Closed on
Oct 15, 1996
Sold by
Dayle Wanda R Tr Dayle Family Trust
Bought by
Dayle Wanda R and The Dayle Family Residual Trus
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| 200 Blanchard Street Llc | $1,250,000 | Ticor Title | |
| Rykgi Llc | -- | North American Title Company | |
| Rykgi Llc | -- | Accommodation | |
| Thornburgh Robert G | -- | -- | |
| Thornburgh Robert G | -- | -- | |
| Thornburgh Robert G | -- | First American | |
| Dayle Wanda R | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | 200 Blanchard Street Llc | $850,000 | |
| Previous Owner | Rykgi Llc | $500,000 | |
| Previous Owner | Thornburgh Robert G | $150,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/15/2021 03/15/21 | Sold | $2,326,000 | +2.1% | $342 / Sq Ft |
| 01/22/2021 01/22/21 | Pending | -- | -- | -- |
| 01/11/2021 01/11/21 | For Sale | $2,279,000 | -- | $336 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $32,662 | $2,517,735 | $1,634,472 | $883,263 |
| 2024 | $32,662 | $2,468,369 | $1,602,424 | $865,945 |
| 2023 | $32,101 | $2,419,970 | $1,571,004 | $848,966 |
| 2022 | $30,134 | $2,372,520 | $1,540,200 | $832,320 |
| 2021 | $18,094 | $1,367,055 | $885,852 | $481,203 |
| 2020 | $18,046 | $1,354,358 | $876,769 | $477,589 |
| 2019 | $17,834 | $1,327,829 | $859,578 | $468,251 |
| 2018 | $17,344 | $1,301,820 | $842,724 | $459,096 |
| 2016 | $4,794 | $284,712 | $71,504 | $213,208 |
| 2015 | $4,636 | $280,436 | $70,430 | $210,006 |
| 2014 | $4,669 | $274,944 | $69,051 | $205,893 |
Source: Public Records
Agents Affiliated with this Home
-
Steve Bogoyevac
-
Jon Swire
Buyer's Agent in 2021
Jon Swire
The Agency
(310) 948-2631
2 in this area
34 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW21006378
APN: 7274-020-012
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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