936 Olive Ave Long Beach, CA 90813
Saint Mary's NeighborhoodEstimated payment $11,101/month
Highlights
- Whole House Fan
- Laundry Room
- Wall Furnace
- Long Beach Polytechnic High School Rated A
- Vinyl Flooring
About This Home
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 $179.5K per unit, it is currently operating at a 9.23 Gross Rent Multiplier (GRM) and a 6.6% cap rate based on current rents. At market rent levels, the GRM improves to 8.79, 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 upgrades—including a new roof and updated main electrical panel—were completed in 2024.
The building is master-metered with a RUBS (Ratio Utility Billing System) in place, currently recapturing 80% 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. Don’t miss this rare opportunity to acquire a turnkey asset at an attractive price. (Virtual Staging)
Listing Agent
Buckingham Investments, Inc Brokerage Phone: 818-415-9362 License #02126566 Listed on: 02/09/2026
Property Details
Home Type
- Apartment
Year Built
- Built in 1922
Lot Details
- 6,289 Sq Ft Lot
- No Common Walls
- Density is 6-10 Units/Acre
Home Design
- Entry on the 1st floor
- Flat Roof Shape
Interior Spaces
- 5,699 Sq Ft Home
- 2-Story Property
- Vinyl Flooring
- Laundry Room
Bedrooms and Bathrooms
- 4 Bedrooms
- 10 Bathrooms
Parking
- Parking Available
- Off-Street Parking
Utilities
- Whole House Fan
- Wall Furnace
Listing and Financial Details
- Legal Lot and Block 8 / 2
- Assessor Parcel Number 7274022018
- $1,770 per year additional tax assessments
Community Details
Overview
- 10 Buildings
- 10 Units
Amenities
- Laundry Facilities
Building Details
- 10 Leased Units
- 1 Separate Electric Meter
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Electric Expense $18,000
- Insurance Expense $8,727
- Maintenance Expense $8,100
- Professional Management Expense $9,269
- New Taxes Expense $22,600
- Operating Expense $67,296
- Gross Income $182,276
- Net Operating Income $118,077
Map
Home Values in the Area
Average Home Value in this Area
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 | $22,583 | $1,706,738 | $1,194,718 | $512,020 |
| 2024 | $22,583 | $1,673,274 | $1,171,293 | $501,981 |
| 2023 | $22,189 | $1,640,466 | $1,148,327 | $492,139 |
| 2022 | $20,841 | $1,608,301 | $1,125,811 | $482,490 |
| 2021 | $20,399 | $1,576,767 | $1,103,737 | $473,030 |
| 2019 | $20,107 | $1,530,520 | $1,071,000 | $459,520 |
| 2018 | $11,273 | $813,842 | $570,382 | $243,460 |
| 2016 | $10,372 | $781,742 | $548,235 | $233,507 |
| 2015 | $10,027 | $770,000 | $540,000 | $230,000 |
| 2014 | $9,632 | $726,562 | $505,435 | $221,127 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 02/09/2026 02/09/26 | For Sale | $1,795,000 | -- | $315 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB26029628
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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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