$650K in Capital Improvements 1060 Olive Ave 16 Unit Apartment Building $7,662,600 CAD ($478,913 CAD/Unit) 5.20% Cap Rate Long Beach, CA 90813

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
• 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.