1941 Olive Avenue, Long Beach, CA 90806

Property Description

1941 Olive is an exceptional opportunity to own a fully turnkey 4-unit in the heart of Long Beach’s highly desirable Poly High area, just minutes from Signal Hill and a short drive to the ocean. Built in 1920, this unique property spans three separate buildings totaling 2,554 rentable square feet on a 6,550 SF lot, delivering a rare bungalow-style layout that lives more like a collection of private homes than a typical apartment complex. The entire property has been comprehensively renovated with no detail overlooked, featuring all-new plumbing, permitted electrical, new windows and doors, upgraded flooring, and fresh interior and exterior paint. Each unit boasts fully remodeled kitchens and bathrooms with new cabinetry, granite countertops, stainless steel appliances, and modern finishes throughout, creating a clean, contemporary living experience that attracts quality tenants and supports premium rents. Curb appeal and functionality are dialed in with a brand-new vinyl fence for added privacy, along with 4 detached enclosed garage spaces—an extremely valuable amenity in this high-demand rental pocket. The unit mix is both practical and desirable: (1) 3-bed / 1-bath standalone home and (3) 1-bed / 1-bath units, including another standalone unit, offering flexibility for owner-users or investors looking to maximize income. This is a true plug-and-play investment with zero deferred maintenance, delivering immediate cash flow from day one. A standalone coin-operated laundry room provides additional passive income, further enhancing returns. Adding to the appeal is future upside potential, with the possibility to add more units on the lot (buyer to verify with the city), giving investors an opportunity to further increase cash flow and overall value. Priced at just $300,000 per unit, the property presents a compelling entry point with strong in-place numbers, including a 6.74% CAP rate and a 12.5 GRM—metrics that align perfectly with today’s investor demand. With off-street parking, convenient access to the 405 and 710 freeways, and close proximity to major employment hubs, shopping, dining, and the Long Beach coastline, 1941 Olive stands out as a fully renovated, stabilized, income-producing asset with both immediate returns and future upside in one of the city’s most active rental markets.