1409 Magnolia Avenue
Long Beach, CA 90813
$50,000.00 (-2.94%)
Active for $1,650,000
Beds: N/A Baths: N/A Structure Size: N/A sqft Lot Size: 4,592 sqft
| MLS | SB24072243 |
| Year Built | 1925 |
| Property Type | Apartment |
| County | Los Angeles |
| Status | Active |
| Active | $1,650,000 |
| Structure Size | N/A sqft |
| Lot Size | 4,592 sqft |
| Beds | N/A |
| Baths | N/A |
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.
Listing information courtesy of: Cameron Samimi, Lyon Stahl Investment Real Estate, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of 11/23/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Location
Contact a Local Realtor®
Alagulyan And Associates
REALTOR®
Direct: 818.442.2033
Email: Email Me
DRE: 01847575
DRE #01873088
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