1060 Olive, Long Beach, California 90813, Long Beach, 90813 - 0 bed, 0 bath
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Long Beach, California 90813
Analysis of 1060 Olive, Long Beach, California 90813 is currently available with a list price of $5,400,000. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the Long Beach Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is new construction or fully renovated.
While built in 1985, the property has undergone $650K in recent capital improvements, including high-end renovations to 11 of the 16 units. Interior photos show mint condition with modern kitchens, stainless steel appliances, recessed lighting, and new flooring. Major systems have been addressed with a new roof (2024), double-pane windows, and an upgraded fire panel.
Approximately $650,000 has been invested in recent upgrades, including high-end renovations to 11 units, a new roof, and enhanced security, significantly reducing near-term capital expenditure requirements for a new owner.
The property features 24 secured underground parking spaces for 16 units, a rare and highly valuable asset in the Long Beach rental market that offers both tenant convenience and additional income potential.
With five units remaining in original condition and the opportunity to implement a RUBS utility reimbursement program, there is a clear and immediate path to increasing the Net Operating Income (NOI).
Located in Cambodia Town (90813), the property is situated in a submarket that may face different economic challenges or slower appreciation compared to prime coastal Long Beach neighborhoods.
The building consists exclusively of 2-bedroom, 1-bathroom units, which may limit the property's appeal to a broader range of tenant demographics, such as single professionals or larger families.
PROPERTY OVERVIEW - 1980'S CONSTRUCTION. Built in 1985, Ten60 Olive Avenue is a well-maintained 16-unit multifamily asset with strong curb appeal, located in Long Beach, California. The property features all 2-bedroom / 1-bath units with ample natural light. Amenities include on-site laundry facilities and secured underground parking with 24 parking spaces. $650K IN CAPITAL IMPROVEMENTS. Ownership has invested approximately $650K in recent capital improvements, significantly reducing near-term capital requirements and enhancing overall asset stability. Improvements include: high-end interior renovations on 11 of the 16 units, double-pane windows installed throughout all units, new railings and exterior enhancements, controlled access gates, building-wide security camera system, newly sealed roof in 2024, and upgraded fire panel system. ADDITIONAL INCOME & VALUE-ADD POTENTIAL. The property offers both in-place supplemental income and identifiable opportunities to further increase revenue; Laundry Income: On-site laundry facilities provide consistent ancillary income. Potential Utility Reimbursement (RUBS): Units are individually metered for gas and electricity positioning the asset for implementation of a RUBS program for additional income. Parking Income: Current rents include one parking space per unit. The property may offer an opportunity to increase parking income without requiring additional capital investment. STABLE IN-PLACE CASH FLOW WITH UPSIDE. With substantial capital improvements completed, strong curb appeal, and additional operational upside remaining, Ten60 Olive Avenue presents a well-balanced multifamily investment opportunity in the heart of Long Beach. The property combines stable in-place cash flow with meaningful long-term growth potential through rental increases, RUBS implementation, and ancillary income opportunities.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 12,270 | 3,542 | 80% |
| Lot Size | 13,051 | 6,501 | 80% |
| Price | $5.40M | $1.43M | 80% |
| Price per sq ft | $440 | $367 | 80% |
| Built year | 1985 | 1949 | 80% |
| HOA | $0 | $0 | 50% |
| Days on market | 10 | 130 | 20% |
Jun 3, 2026
$5,400,000
Initial Listing
Aug 21, 2019
$4,995,000
Public Record
Mar 1, 2018
$3,609,000
Public Record
Oct 16, 2014
$2,220,000
Public Record