$1,650,000
1409 Magnolia Avenue Long Beach, CA 90813
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
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$1,650,000
Est. payment /mo
3,992 SqFt
UPDATED:
09/23/2024 11:01 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 3,992 sqft
Price per Sqft $413
MLS Listing ID CRSB24072243
HOA Y/N No
Year Built 1925
Lot Size 4,592 Sqft
Acres 0.11
Property Description
Great Cash-Flow Deal! Located just outside of booming Downtown Long Beach, 1409 Magnolia Ave is a well-maintained 6 unit building with a high yielding unit mix of (3) 3Bed/1Bath, (2) 2Bed/1Bath, and (1) 1Bed/1Bath units. The property currently grosses $13,756/month and operates at a 7.30% CAP and 10.00 GRM. 1409 Magnolia Ave is the ideal investment for investor looking for day 1 cash-flow with significant upside in rental income. The subject property is located just outside the $6 Billion of development flooding into Downtown LB, including the Long Beach Civic Center, Long Beach Aquarium, OceanAire Project, CSULB Project, CSULB Downtown Village, Broadway Block, the Pacific and Queen Mary Island.
Location
State CA
County Los Angeles
Area Listing
Zoning LBIL
Interior
Fireplace No
Laundry No Hookups
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 7271009010
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Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc.
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