$1,199,988
1941 Olive is a killer opportunity to lock up a fully turnkey 4-unit in the heart of Long Beach’s extremely desirable Poly High area, just minutes from Signal Hill and a short drive to the ocean. Built in 1920, this property consists of three separate buildings totaling 2,554 rentable square feet on a 6,550 SF lot, offering a rare bungalow-style layout that feels more like private homes than a traditional apartment complex. The entire property has been extensively renovated, including all new plumbing, new electrical with permits, new windows and doors, new flooring, fresh interior and exterior paint, and completely updated kitchens and baths featuring new cabinetry, granite countertops, stainless steel appliances, and modern fixtures throughout. Adding to the curb appeal and tenant privacy is a brand-new vinyl fence, along with 4 detached enclosed garage spaces, a major advantage in this dense rental pocket. The unit mix is strong and highly rentable: (1) 3-bed / 1-bath standalone home and (3) 1-bed / 1-bath units, one of which is also standalone. Every unit has been recently renovated, making this a true plug-and-play investment with zero deferred maintenance, perfect for an owner-user or an investor seeking immediate cash flow and market rents from day one. There is also a standalone coin-operated laundry room, providing additional income and enhancing overall returns. At only $300,000 per unit, this asset offers a low barrier to entry with compelling fundamentals, including a 6.74% CAP rate and a 12.5 GRM on current income, exactly the type of performance metrics investors are targeting in today’s market. With off-street parking, easy access to the 405 and 710 freeways, proximity to employment hubs, shopping, dining, and the Long Beach coastline just minutes away, 1941 Olive stands out as a fully renovated, stabilized, cash-flowing asset with long-term upside in one of Long Beach’s most active and desirable rental corridors.
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Listed by Eric Lem with Decorum Properties & Investments, Inc (714) 642-8175
Property Type
Quadruplex
Status
Active
MLS Number
OC26003311
Year Built
1920
Lot Size
6,551 sq ft