Renovated 6-Unit Apartment
For Sale
Contact for pricing
Pending
1224 Olive Ave, Long Beach, CA 90813
Fully renovated units feature private patios, in-unit laundry, and contemporary kitchens and baths.
Property SizeContact for details
Lot Size0.15 Acres
Days on Market147
Property Features for 1224 Olive Ave
General Information
Standard status
Pending
Total Parking Spaces
6
Lot size
0.15 Acres
Property subtype
Multifamily
Financials
Cap Rate
6%
Gross Rent Multiplier
11.71
Units
Unit Mix
4 x 2BD/2BA, 1 x 2BD/1BA, 1 x 1BD/1BA
Multifamily Units
6
Amenities
in-unit washer/dryer
private patios
shared roof deck
Listing Agency:
Stepp Commercial
Listed By:
Robert Stepp · License #CA 01456379
(310) 463-2916
Source:
Crexi
Added: Apr 11
Changed: Sep 2
Last Checked: Sep 2 at 10:19PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Stepp Commercial
Investment Insights
Based on property information with market context.
This 6-unit apartment property at 1224 Olive Ave in Long Beach includes four 2BD/2BA units, one 2BD/1BA unit, and one 1BD/1BA unit. A comprehensive renovation upgraded the roof, electrical panel, main line plumbing, windows, flooring, lighting, kitchens, bathrooms, and fixtures throughout. Each residence includes a washer and dryer, private patio, updated cabinetry, countertops, stainless steel appliances, and modern bathroom finishes.
Two units are newly built ADUs, and residents have access to a shared roof deck. The property includes six surface parking spaces on a 6,501-square-foot lot. Its Walk Score is 91, providing documented walkable access to area amenities. Financial metrics include a 6.00% cap rate and an 11.71 GRM on actuals.
Two units are newly built ADUs, and residents have access to a shared roof deck. The property includes six surface parking spaces on a 6,501-square-foot lot. Its Walk Score is 91, providing documented walkable access to area amenities. Financial metrics include a 6.00% cap rate and an 11.71 GRM on actuals.
Key Highlights
- 6‑unit apartment property with four 2BD/2BA, one 2BD/1BA, and one 1BD/1BA units
- Comprehensive renovation includes roof, electrical panel, main line plumbing, windows, kitchens, and bathrooms
- Two newly‑built ADUs with access to a shared roof deck
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
3,081
Businesses Nearby
Explore this area
Business Placement
Demographics for 90813, CA
54,565
Population
18,603
Households
2.9
Avg Household Size
32
Median Age
16%
College-Educated
63%
High-School Grad
3.1 sq mi
ZIP Area
17,602
Density / Sq Mi
$50,302
Median Household Income
$31,450
Median Earnings
$1,578
Median Rent
$543,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully renovated units feature private patios, in-unit laundry, and contemporary kitchens and baths.
Where is this apartment building located?
The property is located at 1224 Olive Ave Long Beach, CA.
What are key features of this property?
This property features: 6‑unit apartment property with four 2BD/2BA, one 2BD/1BA, and one 1BD/1BA units; Comprehensive renovation includes roof, electrical panel, main line plumbing, windows, kitchens, and bathrooms; Two newly‑built ADUs with access to a shared roof deck
