Updated Apartment Building with
For Sale
$2,155,000
727 Olive Ave, Long Beach, CA 90813
Eleven-unit multifamily property with renovated interiors, onsite laundry, and rear parking improvements in Long Beach.
Property Size6,792 SF
Days on Market107
Property Features for 727 Olive Ave
General Information
Standard status
Active
Size
6,792 SF
Total Parking Spaces
7
Property subtype
Multi-Family
Financials
Cap Rate
6.9%
Gross Rent Multiplier
9.5
Units
Unit Mix
10 x 1BR, 1 x 2BR/1BA
Multifamily Units
11
Amenities
onsite laundry
Building Details
Building Size
6,792 SF
Year Built
1923
Stories
2
Listing Agency:
The Agency
Listed By:
Jonathan Swire · License #01336277
(424) 230-3700
Source:
Nolanrossre.kw
Added: Jul 8
Changed: Oct 13
Last Checked: Oct 20 at 5:19PM
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 The Agency
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Investment Insights
Based on property information with market context.
This 11-unit apartment property, built in 1923, includes ten one-bedroom apartments and a separate two-bedroom, one-bath house. Eight of the ten apartments have received substantial interior improvements, including refreshed paint, flooring, kitchen cabinetry, and bathrooms. The property also includes onsite laundry, five rear garages, and two surface parking spaces. Electrical systems have been updated, subject to buyer verification, while plumbing improvements have been completed in connection with interior renovations. Windows throughout the property have also been updated.
Located at 727 Olive Ave in Long Beach, the property is professionally managed and maintained. The units are subject to AB 1482, with the source information stating they are not subject to additional local rent control. Long Beach Airport is undergoing a stated $37MM overhaul, and adjacent redevelopment by Anduril Industries is planned as a $1 billion project with an anticipated mid-2027 completion.
Located at 727 Olive Ave in Long Beach, the property is professionally managed and maintained. The units are subject to AB 1482, with the source information stating they are not subject to additional local rent control. Long Beach Airport is undergoing a stated $37MM overhaul, and adjacent redevelopment by Anduril Industries is planned as a $1 billion project with an anticipated mid-2027 completion.
Key Highlights
- 11‑unit property with ten 1‑bedroom units and a 2‑bedroom/1‑bath house
- Eight of 10 units updated with paint, flooring, kitchen cabinets, and bathroom improvements
- Five rear garages plus 2 surface parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$143,864
Cap Rate
6.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,877,280
$2.9M
Cap Rate 7%
$2,055,200
$2.1M
Cap Rate 9%
$1,598,489
$1.6M
Market Conditions
NOI Build-Up for 6,792 SF
Gross rent
$273.0K $40.20/SF
− Vacancy
−$11.5K −$1.69/SF
EGI
$261.6K $38.51/SF
− OpEx
−$117.7K −$17.33/SF
NOI
$143.9K $21.18/SF
Area
ZIP 90813
Vacancy
4.20%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,877,280
Cap Rate 7%
$2,055,200
Cap Rate 9%
$1,598,489
Alternative Uses
Best Use
Apartment 5plus
$2.06M
$1.80M – $2.40M
NOI $143,864 @ 7.0% cap · market cap 6.68%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.23M
$1.95M – $2.60M
NOI $156,113 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
4,962
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Eleven-unit multifamily property with renovated interiors, onsite laundry, and rear parking improvements in Long Beach.
Where is this apartment building located?
The property is located at 727 Olive Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $2,155,000.
What are key features of this property?
This property features: 11‑unit property with ten 1‑bedroom units and a 2‑bedroom/1‑bath house; Eight of 10 units updated with paint, flooring, kitchen cabinets, and bathroom improvements; Five rear garages plus 2 surface parking spaces
