tomo logo

$1,650,000

Beds
Unknown
sq ft
3,992

1409 Magnolia Ave, Long Beach, CA 90813

1409 Magnolia Ave

Long Beach, CA 90813

  • 205 days on market
    • Price drop $50,000↓
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.

Details

Property type

Apartment

Lot size

4,592 sq ft

Price per sq ft

$414

Year built

1925

Price History

09/10/2024
CRMLS

CRMLS #SB24072243

Price change
$1,650,000
-2.94%
08/15/2024
CRMLS

CRMLS #SB24072243

Listed
$1,700,000
08/13/2024
CRMLS

CRMLS #SB24072243

Removed
$1,700,000

Schools & Community

Neighborhood: 

Washington School

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Status: Active

Tomo last checked: 11/21/2024 at 5:45 PM

Listing updated: 09/23/2024 at 3:31 PM

Listed by: Cameron Samimi, Lyon Stahl Investment Real Estate, Inc. Phone #: (310) 425-9838

MLS: CRMLS #SB24072243

CRMLS logo

Recently listed in Long Beach

$1,219,999|3 bd|1.5 ba|House
$799,900|2 bd|2.0 ba|House
$2,350,000|6 bd|4.0 ba|House
$650,000|4 bd|2.0 ba|House
$1,680,000|3 bd|2.0 ba|House
$2,400,000|3 bd|3.0 ba|House
$4,900,000|4 bd|4.0 ba|House
$949,999|4 bd|3.0 ba|Townhouse