$1,500,000
$1,625,000
7.7%For more information regarding the value of a property, please contact us for a free consultation.
1409 Magnolia Avenue Long Beach, CA 90813
11 Beds
Key Details
Sold Price $1,500,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB24250411
Bedrooms 11
Property Sub-Type Res Income 2-4 Units
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 $13,251/month and operates at a 7.08% CAP and 10.22 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. OM in the supplements.
Location
State CA
County Los Angeles
Zoning Assessor
Exterior
View Y/N No
Building
Story 2
Others
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
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Bought with Cameron Samimi Lyon Stahl Investment Real Estate, Inc.