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417 Olive Ave, Long Beach, CA 90802
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417 Olive Ave Long Beach, CA 90802

$1,060,000 Sold Price as of 10/09/2020
  • 4 Beds
  • 5 Baths
  • 4,512 Sq.Ft.
Sold
$1,060,000 Sold Price as of 10/09/2020 Refinance Your Mortgage
Map preview of 417 Olive Ave, Long Beach, CA 90802

Property Overview: 417 Olive Ave Long Beach, CA has 4 bedrooms, 5 bathrooms, 4,512 living square feet and 2,782 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present this Investment Opportunity to own a Mixed-Use building Located within the East Village Arts District that hasn't been on the market in over 30 years. Built in 1925 this property was seismically retrofitted in 1992 and originally built with Four(4), One (1) bedroom apartment units above One (1) commercial ground floor unit. Full market rents can be obtained without paying any relocation fees. Great opportunity to convert to 5 individual gas and electrical meters. Lots of natural light through the many windows and multiple access points through the upper and lower walkways. This is an investor opportunity to acquire, add value with true upside in one of the most desirable areas in Downtown Long Beach. Could also use this opportunity to reconfigure units to create a better unit mix. New wood flooring installed less than 5 years ago.

Listed by Vincent Sanchez | BRE #01341646 | Appleby Commercial Real Estate
Last checked: 6 minutes ago | Last updated: March 23rd, 2023 | Source CRMLS | DOM: 13

Home details

Lot Sq. Ft
2,782
HOA Dues
$0/mo
Year built
1925
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
PW20168962
City
Long Beach
County
Los Angeles
Time on Site
1491 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 1
  • # of Leased Units: 0
  • # of Electric Meters: 2
  • # of Gas Meters: 2
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 2
  • # of Units: 4
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,600
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.97%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $100,800
  • Net Operating Income: $62,244
  • Gross Operating Income: $95,760
  • Vacancy Allowance: $5,040
Annual Expense Breakdown
  • Total Operating Expense: $33,516
  • Electric: $0
  • Gas/Fuel: $0
  • New Taxes: $0
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0

Property Details for 417 Olive Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • No Laundry
  • None
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Wood
Kitchen Information
  • Has Appliances
  • Gas Range, Water Heater Central
Interior Features
  • Levels: Two
Exterior Features
Exterior Information
  • Roof: Composition
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: Near Public Transit, Zero Lot Line
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 5
  • Parcel Number: 7281006036
  • Year Built Source: Assessor
  • Foundation Details: Slab
  • Property is Attached
  • Property Condition: Fixer
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: See Remarks
Assessment Information
  • Has Assessments
  • Assessments: Buyer to Verify
Location / Neighborhood
Location Information
  • Subdivision Name: Downtown (DT)
  • Directions: East 4th Street north on Olive left hand side
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Street Lights, Urban
View more facts & features

Local Long Beach Agent

Sale History for 417 Olive Ave

Last leased for $1,995 on June 22nd, 2022

  • June, 2022

  • Jun 22, 2022

    Date

    Leased

    CRMLS: CV22120337

    $1,995

    Price

  • Jun 5, 2022

    Date

    Active

    CRMLS: CV22120337

    $1,995

    Price

  • Listing provided courtesy of CRMLS

    Beautifully updated upstairs 2 bedroom apartment home located in the east village area of downtown Long Beach. Apartment features include newer wood look vinyl flooring throughout, large windows with blinds providing natural lighting and newer interior paint. Remodeled kitchen has stunning white quartz countertops with grey cabinets. The beautifully remodeled bathroom features white subway tiles and a newer vanity. Street parking only. Close to Shoreline, The Pike, shopping, restaurants, LB Convention Center, Queen Mary, etc. Vouchers welcome. Do not miss out!

  • May, 2022

  • May 3, 2022

    Date

    Leased

    CRMLS: CV22044889

    $1,487

    Price

  • Mar 7, 2022

    Date

    Active

    CRMLS: CV22044889

    $1,850

    Price

  • Listing provided courtesy of CRMLS

    Beautifully remodeled upstairs studio apartment home located in the east village area of downtown Long Beach. Apartment features include newer wood look vinyl flooring throughout, large windows/skylight with blinds providing natural lighting and new interior paint. Remodeled kitchen has stunning white quartz countertops. The beautifully remodeled bathroom features white subway tiles and a newer vanity. Street parking only. Close to Shoreline, The Pike, shopping, restaurants, LB Convention Center, Queen Mary, etc. Vouchers welcome. Do not miss out!

  • October, 2020

  • Oct 9, 2020

    Date

    Sold

    CRMLS: PW20168962

    $1,060,000

    Price

  • Oct 5, 2020

    Date

    Pending

    CRMLS: PW20168962

    $1,250,000

    Price

  • Sep 3, 2020

    Date

    Active Under Contract

    CRMLS: PW20168962

    $1,250,000

    Price

  • Aug 20, 2020

    Date

    Active

    CRMLS: PW20168962

    $1,250,000

    Price

  • October, 2020

  • Oct 9, 2020

    Date

    Sold (Public Records)

    Public Records

    $1,060,000

    Price

Show More

Tax History for 417 Olive Ave

Assessed Value (2020): $74,305
Year Land Value Improved Value Assessed Value
2020 $20,040 $54,265 $74,305

Home Value Compared to the Market

This property vs the competition

417 Olive Ave sold on October 9, 2020 for 52.63% higher than the current median sold price for the city of Long Beach which is $819,000. The median sold price per/sqft for Long Beach is $628 and this home is sold at $277.04 per/sqft which puts the price per square foot 55.89% lower than the current median sale per square foot for the city of Long Beach.

About 417 Olive Ave

Detailed summary of property

417 Olive Ave is a multi family that recently sold in Long Beach, CA 90802. This multi family property offered 4 bedrooms, 5 bathrooms, roughly 4,512 living square feet, and sits on an approximately 2,782 square foot lot. 417 Olive Ave was first listed on ArdentRealEstateGroup.com on August 20, 2020. The homeowner sold the property for $1,060,000. Home in Long Beach are selling for a median price of $819,000 and a median price per square foot of $628. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 52.63% higher than the current median priced home. Local homes that are currently for sale include 1163 Magnolia Ave, 2311 E 6th St and 340 E 19th St. While the average home in Long Beach, CA is selling in 62 days, 417 Olive Ave has a days on market of 13 days. There are currently 778 homes for sale in the Long Beach real estate market and 416 of them are single family homes while 337 of them are condos and 23 are townhomes. For more information on this home for sale at 417 Olive Ave Long Beach, CA 90802 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 417 Olive Ave

Public county record property details
Beds
--
Baths
--
Year built
1925
Sq. Ft.
4,512
Lot Size
2,782
Stories
1
Type
Commercial/Office/Residential (Mixed Use)
Pool
No
Spa
No
County
Los Angeles
Lot#
25-28
APN
7281-006-036

The source for these homes facts are from public records.

90802 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$569,000
Median List Price/Sq.Ft.
$660
Median Sold Price
$515,000
Median Sold Price/Sq.Ft.
$619
Total Inventory
173
Median Sale to List Price %
100.39%
Avg Days on Market
43
Loan Type
Conventional (60.71%), FHA (7.14%), VA (0%), Cash (14.29%), Other (17.86%)

Thinking of Selling?

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(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information 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. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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