$1,650,000
- Beds
- Unknown
- sq ft
- 3,992
1409 Magnolia Ave, Long Beach, CA 90813
1409 Magnolia Ave
Long Beach, CA 90813
- 150 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 #SB24072243
Price change
$1,650,000
-2.94%
08/15/2024
CRMLS #SB24072243
Listed
$1,700,000
08/13/2024
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: 09/27/2024 at 7:15 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
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