$1,795,000
936 Olive AV
Long Beach, CA, 90813
Property Description
Turnkey 10-Unit Property in Prime North East Village – Priced to Sell!
Located in the vibrant and densely populated North East Village neighborhood, this fully stabilized 10-unit property is an exceptional investment opportunity. Priced at just $179.5K per unit, it is currently operating at a 9.23 Gross Rent Multiplier (GRM) and a 6.6% cap rate based on current rents. At market rent levels, the GRM improves to 8.79, and the cap rate increases to 7.0%.
The unit mix includes 7 studios, 2 one-bedrooms, and 1 two-bedroom unit. All units have been remodeled, and major upgrades—including a new roof and updated main electrical panel—were completed in 2024.
The building is master-metered with a RUBS (Ratio Utility Billing System) in place, currently recapturing 80% of utility expenses. An on-site coin-operated laundry room adds convenience for tenants and generates additional income. The exterior has been freshly painted, enhancing curb appeal.
Ideally situated near St. Mary Medical Center, downtown Long Beach, the beach, and major freeways, this property offers excellent accessibility and strong rental demand. Don’t miss this rare opportunity to acquire a turnkey asset at an attractive price. (Virtual Staging)
Located in the vibrant and densely populated North East Village neighborhood, this fully stabilized 10-unit property is an exceptional investment opportunity. Priced at just $179.5K per unit, it is currently operating at a 9.23 Gross Rent Multiplier (GRM) and a 6.6% cap rate based on current rents. At market rent levels, the GRM improves to 8.79, and the cap rate increases to 7.0%.
The unit mix includes 7 studios, 2 one-bedrooms, and 1 two-bedroom unit. All units have been remodeled, and major upgrades—including a new roof and updated main electrical panel—were completed in 2024.
The building is master-metered with a RUBS (Ratio Utility Billing System) in place, currently recapturing 80% of utility expenses. An on-site coin-operated laundry room adds convenience for tenants and generates additional income. The exterior has been freshly painted, enhancing curb appeal.
Ideally situated near St. Mary Medical Center, downtown Long Beach, the beach, and major freeways, this property offers excellent accessibility and strong rental demand. Don’t miss this rare opportunity to acquire a turnkey asset at an attractive price. (Virtual Staging)
Property Details
Price:
$1,795,000
MLS #:
SB26029628
Status:
Active
Beds:
0
Baths:
0
Type:
Single Family
Subtype:
Apartment
Neighborhood:
4downtownareaalamitosbeach
Listed Date:
Feb 9, 2026
Total Sq Ft:
5,699
Lot Size:
6,289 sqft / 0.14 acres (approx)
Year Built:
1922
Schools
Interior
Cooling
WHF
Flooring
VINY
Heating
WL
Laundry Features
CM
Levels
U
Exterior
Common Walls
NCW
Community Features
SDW
Roof
FLTR
Spa Features
NO
View
NO
Financial
Maintenance Fee
$8,100
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Courtesy of Buckingham Investments, Inc. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than Mohr Real Estate Group include the name of the listing broker. Neither the listing company nor Mohr Real Estate Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2026. California Regional Multiple Listing Service. All rights reserved. 936 Olive AV
Long Beach, CA
