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1409 Magnolia Avenue , #1

Long Beach, CA 90813
  • $1,625,000
  • STATUS: Active Under Contract
  • ON SITE: 56 Days
  • ID#: SB24250411
Under Contract
UPDATED: 195 min ago
$1,625,000
  • 0
    BEDS
  • 0.11
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1925
County:

School Ratings & Info

Listing Agent(s): Cameron Samimi of Lyon Stahl Investment Real Estate, Inc. (310-425-9838)


Description

Great Cash-Flow Deal! Located just outside ofbooming Downtown Long Beach, 1409 Magnolia Aveis a well-maintained 6 unit building with a highyielding unit mix of (3) 3Bed/1Bath, (2) 2Bed/1Bath,and (1) 1Bed/1Bath units. The property currentlygrosses $13,251/month and operates at a 7.08% CAPand 10.22 GRM. 1409 Magnolia Ave is the idealinvestment for investor looking for day 1 cash-flowwith significant upside in rental income.The subject property is located just outside the $6Billion of development flooding into Downtown LB,including the Long Beach Civic Center, Long BeachAquarium, OceanAire Project, CSULB Project, CSULBDowntown Village, Broadway Block, the Pacific andQueen Mary Island. OM in the supplements.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2025-02-11T00:27:25.21. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
www.playavistaliving.com/homes/158829962
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1409 Magnolia Avenue , #1 Long Beach, CA 90813

  • Price: $1,625,000
  • Status: Active Under Contract
  • On Site: 56 Days
  • Updated: 195 min ago
  • ID#: SB24250411
0
Beds
0
Baths
0
½ Baths
0.11
Acres
1925
Built
Neighborhood:
699 - Not Defined
County:
Los Angeles
Area:
699 - Not Defined
Property Description
Great Cash-Flow Deal! Located just outside ofbooming Downtown Long Beach, 1409 Magnolia Aveis a well-maintained 6 unit building with a highyielding unit mix of (3) 3Bed/1Bath, (2) 2Bed/1Bath,and (1) 1Bed/1Bath units. The property currentlygrosses $13,251/month and operates at a 7.08% CAPand 10.22 GRM. 1409 Magnolia Ave is the idealinvestment for investor looking for day 1 cash-flowwith significant upside in rental income.The subject property is located just outside the $6Billion of development flooding into Downtown LB,including the Long Beach Civic Center, Long BeachAquarium, OceanAire Project, CSULB Project, CSULBDowntown Village, Broadway Block, the Pacific andQueen Mary Island. OM in the supplements.
Exterior Features

Entry Level 1 Entry Location 1 Lot Features 0-1 Unit/Acre Number Of Separate Electric Meters 6 Parking Total 4 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Cap Rate 7.08 Common Interest Community Apartment Community Features Urban Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 159012 Gross Scheduled Income 159012 Insurance Expense 0 Land Lease YN No Laundry Features None Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New LoanConventional1031 Exchange Net Operating Income 114986 New Construction YN No Number Of Separate Gas Meters 6 Number Of Separate Water Meters 1 Operating Expense 39256 Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Vacancy Allowance Rate 3 Water Sewer Expense 0 Water Source Public Zoning LBIL



Based on information from California Regional Multiple Listing Service, Inc. as of 2025-02-11T00:27:25.21. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
 
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Team Tami | Palm Realty Boutique
323 Culver Blvd.
Playa del Rey CA, 90293
Listing Agent(s): Cameron Samimi of Lyon Stahl Investment Real Estate, Inc. (310-425-9838)