Long Beach, CA 90806,1941 Olive AVE
Long Beach, CA 90806,1941 Olive AVE
Long Beach, CA 90806,1941 Olive AVE
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$1,199,988
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6,551 Sqft Lot
Active

1941 Olive AVE Long Beach, CA 90806

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Shari Wolvek

Shari Wolvek

+1(818) 515-8735

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Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Subdivision Poly High (Ph)

MLS Listing ID OC26003311

Construction Status Turnkey

HOA Y/N No

Year Built 1920

Lot Size 6,551 Sqft

Property Sub-Type Quadruplex

Property Description

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.

Location

State CA

County Los Angeles

Area 9 - Poly High

Interior

Interior Features Granite Counters, Open Floorplan, Pantry, Bedroom on Main Level, Main Level Primary

Heating Floor Furnace

Cooling None

Flooring Vinyl

Fireplaces Type None

Fireplace No

Appliance ENERGY STAR Qualified Appliances, ENERGY STAR Qualified Water Heater, Exhaust Fan, Freezer, Gas Oven, Gas Range, Microwave, Water Heater

Laundry Common Area, Laundry Room, Outside

Exterior

Parking Features Assigned, Garage, Private, Garage Faces Rear

Garage Spaces 4.0

Garage Description 4.0

Fence Excellent Condition, Vinyl

Pool None

Community Features Dog Park, Hiking, Street Lights, Sidewalks, Gated

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N Yes

View City Lights

Roof Type Flat

Total Parking Spaces 4

Private Pool No

Building

Lot Description Back Yard, Front Yard, Landscaped, Rectangular Lot, Street Level

Story 2

Entry Level Two

Foundation Raised

Sewer Public Sewer

Water Public

Architectural Style Spanish

Level or Stories Two

New Construction No

Construction Status Turnkey

Others

Senior Community No

Tax ID 7210010014

Security Features Carbon Monoxide Detector(s),Gated Community

Acceptable Financing Cash, Conventional, Cal Vet Loan, 1031 Exchange, FHA, Fannie Mae, Government Loan, VA Loan

Listing Terms Cash, Conventional, Cal Vet Loan, 1031 Exchange, FHA, Fannie Mae, Government Loan, VA Loan

Special Listing Condition Standard

CRMLS – RECore
Listed by Eric Lem Decorum Properties & Investments, Inc 949-533-8269

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Shari Wolvek

Shari Wolvek

Agent | License ID: 02235508

+1(818) 515-8735

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1941 Olive AVE