1 month on rocket

936 Olive Ave, Long Beach, CA, 90813

$2,080,000

Home List Price

$10,000*

Closing Credit

0 Baths
Condo

Location

Image provided by Mapbox

Get An Agent. Get A Mortgage.

Save BIG.

Rocket Homes logo

936 Olive Ave, Long Beach$2,080,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

Rocket Homes logo

Still Have Questions? Contact Us.

Contact Us Phone Number1 (855) 200-2001

Property Highlights

Home TypeCondominium
ParkingNone
Year Built1922
HeatingWall Furnace
CoolingWhole House Fan
FireplaceNone
ViewNone
MLS #SB24215096
Lot Size0.14 Acres
StatusActive

About 936 Olive Ave

10-Unit Property in the Densely Populated North East Village Neighborhood This 10-unit property is located in the highly desirable North East Village neighborhood. Priced at $208K per unit, it is fully stabilized, operating with a 10.60 gross rent multiplier (GRM) and a 6% capitalization rate based on current rental income. The unit mix consists of 7 studios, 2 one-bedroom units, and 1 two-bedroom unit. At market rental income, the GRM improves to 9.79, and the cap rate rises to 6.5%. All units have been remodeled, and both the roof and electrical panel were updated in 2024. The building is master-metered with a RUBS (Ratio Utility Billing System) in place, currently covering 60% of utility expenses. Additionally, an onsite coin-operated laundry room provides extra income and convenience for tenants. Centrally located near St. Mary Medical Center, downtown Long Beach, the beach, and major freeways, this property offers excellent accessibility. It is a rare opportunity to acquire a turn-key asset at an attractive value.

Property Details

Property Features

Property Information:

  • Year Built: 1922
  • Stories: 2

Listing Office:

  • Office Name: Buckingham Investments, Inc
  • Office Phone: (818) 415-9362
  • Listing Agent: Nina Le

Interior Features

Interior Information:

  • Flooring Type: Vinyl
  • Fireplace: None

Exterior Features

Exterior Information:

  • Private Pool: No
  • View: None

Parking Information:

  • Parking: None

Lot Features

Lot Information:

  • Lot Size: 0.14 Acres

Utilities

Utilities Information:

  • Heating: Wall Furnace
  • Cooling: Whole House Fan

Other

Directions Information:

  • Directions: near 10th St. and Martin Luther King Ave.

Price Information

Listing Price Info

Price Summary:

  • List Price: $2,080,000

Tax Information:

  • Annual Amount: $20,399
  • Tax Year: 2021
House and calculator

What can I afford?

Understand what home price range makes sense for your budget.

Housing Market Comparison

See how this home compares to others in Long Beach, CA.

Map thumbnail provided by MapBox

Long Beach, CA

City

Med. Sold Price

$824.6K

Med. Price/SqFt

$633

Avg. Days On Market

34

# of Sold Homes

212

936 Olive Ave vs Long Beach

37 DAYS ON ROCKET

+3 Days

$2,080,000

+$1.2M More

KEY TAKEAWAY

This property is $1.2M more than the Median Sold Price in Long Beach, CA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CRMLS
  • MLS Number: #SB24215096

Listing Office:

  • Office Name: Buckingham Investments, Inc
  • Office Phone: (818) 415-9362
  • Listing Agent: Nina Le

IDX Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/23/2024, 10:20:53 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Aug 28, 2014Home Sold
$697,000
Feb 25, 2010Home Sold
$690,000
Apr 10, 2008Home Sold
$1,000,000
Apr 01, 2005Home Sold
$700,000
Mar 25, 2004Home Sold
$685,000
May 22, 2003Home Sold
$525,000
Jul 17, 2002Home Sold
$365,000
Apr 28, 1988Home Sold
$175,000

Tax History

YEARPROP. TAXASSESSMENT
2021$20,399$1,577,287
2020$20,106$1,560,600
2019$11,273$1,530,000
2018$11,152$813,322
2017$11,152$797,376

History based on county public records data.

Payment Calculator

$10.4K

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$6,302

Powered By

Rocket Mortgage

Advertisement

NMLS#3030

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-996621
6
/10

  • Lincoln Elementary School

  • 1175 E 11th St

  • 0.33 miles

  • Public District Grades KG-5

school-card-donut-996622
5
/10

  • Robert Louis Stevenson Elementary School

  • 515 Lime Ave

  • 0.37 miles

  • Public District Grades KG-5

school-card-donut-996623
5
/10

  • Oropeza Elementary School

  • 700 Locust Ave

  • 0.51 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $20,404. Most Long Beach, CA residents have annual incomes less than $35k. Residents typically live in single, no kids family. The most common level of education of people living in this area is high school diploma.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 936 Olive Ave

What is the listing price of this property?

The listing price of 936 Olive Ave property is $2,080,000.

What type of property is this?

The property 936 Olive Ave is a condo located in Long Beach, California, 90813.

Is this property for sale now?

Active Listing: 936 Olive Ave is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $20,399 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on August 28, 2014 for $697,000. (source: MLS/tax record).

Which year was this property built?

The year of construction for 936 Olive Ave is 1922.

Rocket Homes›California›Los Angeles County›Long Beach›90813›936 Olive Ave

This home is located at 936 Olive Ave in Long Beach, CA and zip code 90813 in the The Harbor neighborhood. This home, which was built in 1922, sits on a 0.14 acre lot. It has been listed on Rocket Homes since October 17, 2024 and is currently priced at $2,080,000.

Long Beach, CA housing market in October 2024 saw over 94 listings sold above listed price, more than 35 sold at listed price and over 83 sold below. Between September 2024 and October 2024, Long Beach, CA real estate market has seen decrease in the number of listings by 0.1%. While the average time on the market in October 2024 was 34 days, the median list price was $824,667.

From Rocket Homes Real Estate and based on county public records data.

More Resources