736-742Olive is a 12-unit apartment building located in Long Beach, CA. The property is priced at a 6.0% cap rate and an11.56 GRMon current rents. Built in 1927, the property includes (2) studios, (1) 5BD/2BAunit, and (9) 3BD/1BAunits. Parking is available on-site with eight (8) garages and eight (8) surface spaces. The majority of the units have been updated with new flooring, paint and countertops. New ownership can generate additional upside by converting garages to ADUs, without losing surface parking in the interior courtyards. With a 91 Walk Score, the asset is well located near vibrant Downtown Long Beach and Alamitos Beach.
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The average household income in
Long Beach, CA
grew
from
$60,557
to
$61,610
in the past year. This data is an estimate based upon
173,432
households in
Long Beach, CA. The chart below presents how household income is distributed in
Long Beach, CA
in comparison to the revenue allocation amid households nationally.
Property Taxes
Average range: $3k+
One of the most important aspects for property owners is the amount of property taxes. This graph shows
distribution of property taxes in
Long Beach, CA
compared to median property taxes around the country. The prevalent amount of property taxes in
Long Beach, CA
equals
$3k+
, which is
more
than the national average.