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Long Beach, CA 90813 1409 Magnolia Avenue

$1,700,000

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Presented By: Cameron Samimi with Lyon Stahl Investment Real Estate, Inc.; 310-259-7556
  • MLS# SB24072243
  • 04/30/2024
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  • BedBeds • 14
  • BathBaths • 6
  • FootageSQFT • 3,992
  • GarageGarage • 4

Home Details

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 $13,516/month and operates at a 6.85% CAP and 10.45 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.
Presented By: Cameron Samimi with Lyon Stahl Investment Real Estate, Inc.; 310-259-7556

Interior Features for 1409 Magnolia Avenue

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesNone
Street SuffixAvenue
Total Stories2

Other Rooms

Entry Level1

General for 1409 Magnolia Avenue

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate6.85
Carport Y/NNo
CityLong Beach
Community FeaturesUrban
CountyLos Angeles
Days on Market5
DirectionsOff Magnolia, Off Anaheim
Electric Expense0.0
Entry LocationFront
Expected Active Date 2024-05-01
Fuel Expense0.0
Garage Spaces4.0
Garage Y/NYes
Gross Income162663.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense0.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsCash, CashtoNewLoan, Conventional, Item1031Exchange
Lot Size Square Feet4592.0
MLS Area4 - Downtown Area, Alamitos Beach
MobileHomeRemainsYNNo
Net Operating Income116450.0
New ConstructionNo
Operating Expense41333.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Street NameMagnolia
Tax Lot6
Total Units6
Trash Expense0.0
View Y/NNo
Water Sewer Expense0.0
Waterfront Y/NNo
Year Built1925
Year Built SourceAssessor
ZoningLBIL

Exterior for 1409 Magnolia Avenue

Building Area Total3992.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem01UnitAcre
Lot Size Acres0.1054
Lot Size Area4592.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings2
Number of Separate Electric Meters6
Number of Separate Gas Meters6
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking4.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $1,700,000
MLS#SB24072243
List Date 04/30/2024
Property Type Multi-Family
Phone 714.964.3311
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CRMLS Compliance Statements & Disclaimers

*According to the National Association of Realtors