727 Olive Ave, Long Beach, CA, 90813
About This Home
PRICED REDUCED TO SELL AT 9.4 GRM AND 7.0% CAP AGAINST IN PLACE RENTS WITH UPSIDE. Earn over an 8% cash on cash return against in place rents. 11 units in Long Beach NOT subject to rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7%). Long Beach has undergone major redevelopment with over $8BB of new projects in the past few years. The property is professionally managed and well maintained with onsite laundry. The property features 10 1 bedroom units and 2 bedroom/1 bed house.10 units have been heavily updated with new paint, flooring, kitchen cabinets and bathrooms. There are 5 garages in the rear and 2 surface spaces which is an added bonus given how limited parking is in Long Beach. Additionally, a Buyer could convert the 5 rear garages to ADU's if they choose - adding another 2 units - Buyer to verify. The property features updated electrical (Buyer to verify) and plumbing has been updated as interior updates have been made. All windows are updated as well. This property is perfect for an investor looking for a building with most of the heavy lifting done. Yet there is still some upside left to a 9 GRM and 7.5% CAP. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. Additionally, Long Beach Airport is going through a $37MM overhaul in preparation for the 2028 Olympics.
Getting Around
Walker's Paradise
Excellent Transit
Very BikeableSchools
Construction
Condition
- Year built: 1923
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Bedrooms & Bathrooms
- Bedrooms: 12
- Bathrooms: 11
Heating & Cooling
- Heating features: Wall
- Cooling features: None
Interior Area
- Total structure area: 6,792
- Total interior livable area: 6,792 sqft
Property
Details
- Parcel number: 7274020012
- Zoning: LBR4R
- Special condition: Standard
- Other equipment: None
Features
- Levels: Two
- Stories: 2
Lot
- Lot size: 7,505 sqft
Parking
- Total spaces: 7
- Parking features: Assigned
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Earthquake
- Inland Flooding
- Heat Wave
- Wildfire
How This Home’s Risks Compare
FEMA Declared Disasters in Los Angeles County and California
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $10,947 | $131,364 |
| Home Insurance * | $420 | $5,040 |
| Property Taxes | $2,398 | $28,776 |
| Electricity | $1,456 | $17,477 |
| Total | $15,221 | $182,652 |
Income You'd Need if You Spent...
California FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-08-10 | Price change | $2,155,000 |
| 2026-07-27 | Price change | $2,165,000 |
| 2026-07-08 | Listed for sale | $2,175,000 |
| 2021-03-12 | Sold | $2,326,000 |
| 2021-01-12 | Listed for sale | $2,279,000 |
| 2016-01-26 | Sold | $1,250,000 |
| 1998-11-30 | Sold | $215,000 |
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