936 Olive Avenue
Description
This 10-unit property is located in the highly desirable North East Village neighborhood. Priced at $208K per unit, it is fully stabilized, operating with a 10.60 gross rent multiplier (GRM) and a 6% capitalization rate based on current rental income. The unit mix consists of 7 studios, 2 one-bedroom units, and 1 two-bedroom unit. At market rental income, the GRM improves to 9.79, and the cap rate rises to 6.5%. All units have...10-Unit Property in the Densely Populated North East Village Neighborhood
This 10-unit property is located in the highly desirable North East Village neighborhood. Priced at $208K per unit, it is fully stabilized, operating with a 10.60 gross rent multiplier (GRM) and a 6% capitalization rate based on current rental income. The unit mix consists of 7 studios, 2 one-bedroom units, and 1 two-bedroom unit. At market rental income, the GRM improves to 9.79, and the cap rate rises to 6.5%. All units have been remodeled, and both the roof and electrical panel were updated in 2024. The building is master-metered with a RUBS (Ratio Utility Billing System) in place, currently covering 60% of utility expenses. Additionally, an onsite coin-operated laundry room provides extra income and convenience for tenants. Centrally located near St. Mary Medical Center, downtown Long Beach, the beach, and major freeways, this property offers excellent accessibility. It is a rare opportunity to acquire a turn-key asset at an attractive value.
- Listed by Nina Le • DRE #02126566 • Brokerage DRE #01914434 • Buckingham Investments, Inc • 818-415-9362
Property Details for 936 Olive Avenue
Property Details for 936 Olive Avenue
| Status | Active |
|---|---|
| MLS # | SB24215096 |
| Days on Market | 32 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1922 |
| County | Los Angeles County |
Building Information for 936 Olive Avenue
Property Information for 936 Olive Avenue
- Tenant Pays: Electricity, Gas
- Gross Income: $0
- Gross Scheduled Income: $187,668
- Vacancy Allowance Rate: 5
- Gross Operating Income: $186,877
- Net Operating Income: $124,257
- Number Of Rented Garages: 0
- Laundry Income: $1,200
- Other Income Description: RUBS
- Other Income 1: $8,592
- Gross Multiplier: 10.6
- Cap Rate: 6.0
- Operating Expense: $62,620
- Fuel Expense: $0
- Electric Expense: $17,700
- Insurance Expense: $7,788
- Professional Management Expense: $11,213
- Trash Expense: $0
- Water Sewer Expense: $0
- Total Expenses: $62,620
- Tax Block: 2
- Tax Tract Number: HELLER
- Tax Census Tract: 5763.02
- CFD/Mello-Roos Fee: $1,770
- Tax Lot: 8
- Assessments YN: Yes
- Assessments: Unknown
- Community Features: Sidewalks
- Laundry: Yes
- Laundry Features: Community
- Laundry Equipment Own Lease: Own
- Fireplace Features: None
- Fireplace Rooms: None
- Cooling: Whole House Fan
- Heating Type: Wall
- Heating: Wall Furnace
- Flooring: Vinyl
- Entry Location: door
- View Description: None
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Spa Features: None
- Lot Features: 6-10 Units/Acre
- Number Of Units: 10
- Land Lease: No
- Land Lease Type: Fee
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Utilities: Electricity Available, Natural Gas Available
- Electric: Electricity Available, Natural Gas Available
- Water Source: Public
- Garage Spaces: 0
- Parking: No
- Parking Garage: None
- Parking Garage Spaces: 0
- Carport Spaces: 0
- Parking Features: None
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Actual Rent: $1,745
- Unit Type Total Rent: $1,745
- Unit Type Pro Forma: 1800
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 0
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Actual Rent: $1,495
- Unit Type Total Rent: $1,495
- Unit Type Pro Forma: 1550
- Unit Type Type: 10
- Unit Type Units Total: 1
- Unit Type Beds Total: 0
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Actual Rent: $1,550
- Unit Type Total Rent: $1,550
- Unit Type Pro Forma: 1550
- Unit Type Type: 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 0
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Actual Rent: $1,495
- Unit Type Total Rent: $1,495
- Unit Type Pro Forma: 1550
- Unit Type Type: 3
- Unit Type Units Total: 1
- Unit Type Beds Total: 0
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Actual Rent: $1,552
- Unit Type Total Rent: $1,552
- Unit Type Pro Forma: 1550
- Unit Type Type: 4
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Actual Rent: $1,956
- Unit Type Total Rent: $1,956
- Unit Type Pro Forma: 2000
- Unit Type Type: 5
- Unit Type Units Total: 1
- Unit Type Beds Total: 0
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Actual Rent: $1,331
- Unit Type Total Rent: $1,331
- Unit Type Pro Forma: 1550
- Unit Type Type: 6
- Unit Type Units Total: 1
- Unit Type Beds Total: 0
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Actual Rent: $1,495
- Unit Type Total Rent: $1,495
- Unit Type Pro Forma: 1550
- Unit Type Type: 7
- Unit Type Units Total: 1
- Unit Type Beds Total: 0
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Actual Rent: $1,425
- Unit Type Total Rent: $1,425
- Unit Type Pro Forma: 1550
- Unit Type Type: 8
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Actual Rent: $1,595
- Unit Type Total Rent: $1,595
- Unit Type Pro Forma: 1800
- Unit Type Type: 9
- Number Of Units Leased: 10
- Rent Controlled: No
- Number Of Buildings: 10
- Number Of Separate Electric Meters: 1
- Number Of Separate Gas Meters: 1
- Number Of Separate Water Meters: 1
Property History for 936 Olive Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 936 Olive Avenue
Schools near 936 Olive Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Charter - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
International Elementary School PublicK to 5 | ||
Franklin Classical Middle School Public6 to 8 | ||
Polytechnic High School Public9 to 12 | ||
Clear Passage Educational Center Charter9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of Buckingham Investments, Inc, Nina Le, DRE #02126566
Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.