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1941 Olive Avenue, Long Beach, California 90806, Long Beach, 90806 - bed, bath

1941 Olive Avenue, Long Beach, California 90806 home-pic-0
ACTIVE$1,199,988$2,554/sqft
1941 Olive Avenue, Long Beach, California 90806
0Bed
0Bath
2,554Sqft
6,550Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Extensive Renovation & Turnkey Condition: The entire property has undergone extensive renovations, including new plumbing, electrical (with permits), windows, doors, flooring, paint, and updated kitchens/baths, making it a true plug-and-play investment with zero deferred maintenance.
Top Cons:
Age of Original Construction: Built in 1920, the property's underlying structure is over a century old. While extensively renovated, this could still lead to unforeseen maintenance issues or higher insurance costs compared to newer constructions.

Compared to the nearby listings

Price:$1.20M vs avg $965.0K (+$234,988)67%
Size:2,554 sqft vs avg 2,342 sqft60%
Price/sqft:$470 vs avg $43860%

More Insights

Built in 1920 (106 years old).
Condition: Despite being built in 1920, the property has undergone an extensive and recent renovation, as explicitly stated in the description. This includes all new plumbing, electrical (with permits), windows, doors, flooring, paint, and completely updated kitchens and baths with new cabinetry, granite countertops, stainless steel appliances, and modern fixtures. The images confirm these updates, showing modern, virtually new interiors with no visible deferred maintenance. While the lack of central air conditioning is noted as a weakness, the overall condition of the renovated components aligns perfectly with the 'Excellent' criteria for a property extensively renovated within the last 5 years, presenting as 'virtually new' and 'turnkey'.
Year Built
1920
Close
-
List price
$1.2M
Original List price
$1.2M
Price/Sqft
$470
HOA
-
Days on market
-
Sold On
-
MLS number
OC26003311
Home ConditionExcellent
Features
Good View: City Lights
Deck
Patio
ViewCity Lights

About this home

1941 Olive is a killer opportunity to lock up a fully turnkey 4-unit in the heart of Long Beach’s extremely desirable Poly High area, just minutes from Signal Hill and a short drive to the ocean. Built in 1920, this property consists of three separate buildings totaling 2,554 rentable square feet on a 6,550 SF lot, offering a rare bungalow-style layout that feels more like private homes than a traditional apartment complex. The entire property has been extensively renovated, including all new plumbing, new electrical with permits, new windows and doors, new flooring, fresh interior and exterior paint, and completely updated kitchens and baths featuring new cabinetry, granite countertops, stainless steel appliances, and modern fixtures throughout. Adding to the curb appeal and tenant privacy is a brand-new vinyl fence, along with 4 detached enclosed garage spaces, a major advantage in this dense rental pocket. The unit mix is strong and highly rentable: (1) 3-bed / 1-bath standalone home and (3) 1-bed / 1-bath units, one of which is also standalone. Every unit has been recently renovated, making this a true plug-and-play investment with zero deferred maintenance, perfect for an owner-user or an investor seeking immediate cash flow and market rents from day one. There is also a standalone coin-operated laundry room, providing additional income and enhancing overall returns. At only $300,000 per unit, this asset offers a low barrier to entry with compelling fundamentals, including a 6.74% CAP rate and a 12.5 GRM on current income, exactly the type of performance metrics investors are targeting in today’s market. With off-street parking, easy access to the 405 and 710 freeways, proximity to employment hubs, shopping, dining, and the Long Beach coastline just minutes away, 1941 Olive stands out as a fully renovated, stabilized, cash-flowing asset with long-term upside in one of Long Beach’s most active and desirable rental corridors.

E
Eric Lem
Listing Agent

Nearby schools

5/10
Burnett Elementary School
Public,•K-5•0.4mi
7/10
Roosevelt Elementary School
Public,•K-5•0.5mi
4/10
Whittier Elementary School
Public,•K-5•0.7mi
8/10
Signal Hill Elementary School
Public,•K-5•0.8mi
6/10
Washington Middle School
Public,•6-8•0.8mi
6/10
Franklin Classical Middle School
Public,•6-8•1.4mi
6/10
Polytechnic High School
Public,•9-12•0.4mi

Price History

Date
Event
Price
01/28/19
Sold
$950,000
12/01/17
Sold
$550,000
06/07/02
Sold
$259,000
Condition Rating
Excellent
Despite being built in 1920, the property has undergone an extensive and recent renovation, as explicitly stated in the description. This includes all new plumbing, electrical (with permits), windows, doors, flooring, paint, and completely updated kitchens and baths with new cabinetry, granite countertops, stainless steel appliances, and modern fixtures. The images confirm these updates, showing modern, virtually new interiors with no visible deferred maintenance. While the lack of central air conditioning is noted as a weakness, the overall condition of the renovated components aligns perfectly with the 'Excellent' criteria for a property extensively renovated within the last 5 years, presenting as 'virtually new' and 'turnkey'.
Pros & Cons

Pros

Extensive Renovation & Turnkey Condition: The entire property has undergone extensive renovations, including new plumbing, electrical (with permits), windows, doors, flooring, paint, and updated kitchens/baths, making it a true plug-and-play investment with zero deferred maintenance.
Strong Financial Performance: Offers compelling investment fundamentals with a 6.74% CAP rate and a 12.5 GRM on current income, providing immediate cash flow and market rents from day one, appealing to both investors and owner-users.
Desirable Location & Accessibility: Situated in the heart of Long Beach’s desirable Poly High area, minutes from Signal Hill, a short drive to the ocean, and easy access to the 405 and 710 freeways, employment hubs, shopping, and dining.
Unique Layout & Tenant Amenities: Features a rare bungalow-style layout across three separate buildings, offering a private home feel for tenants, complemented by 4 detached enclosed garage spaces and a standalone coin-operated laundry room for additional income.
Diverse Unit Mix & High Rentability: Comprises a strong unit mix of one 3-bed/1-bath standalone home and three 1-bed/1-bath units (one also standalone), catering to a broad tenant base and enhancing rental demand.

Cons

Age of Original Construction: Built in 1920, the property's underlying structure is over a century old. While extensively renovated, this could still lead to unforeseen maintenance issues or higher insurance costs compared to newer constructions.
Lack of Central Air Conditioning: Despite extensive renovations, the description does not mention a central cooling system, which could be a significant drawback for tenant comfort during Long Beach's warmer months and a competitive disadvantage.
Limited Private Outdoor Space: With 4 units on a 6,550 SF lot, individual private yard space for each unit may be limited, potentially deterring tenants seeking more extensive outdoor living areas, despite the bungalow style.
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