About 1409 Magnolia Ave
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.
Features of 1409 Magnolia Ave
| MLS® # | SB24072243MR |
|---|---|
| Price | $1,700,000 |
| Bedrooms | 14 |
| Bathrooms | 6.00 |
| Square Footage | 3,992 |
| Acres | 0.11 |
| Year Built | 1925 |
| Type | Residential Income |
| Sub-Type | Apartment |
| Status | Active |
Community Information
| Address | 1409 Magnolia Ave |
|---|---|
| Area | Downtown Area, Alamitos Beach |
| City | LONG BEACH |
| County | Los Angeles |
| State | CA |
| Zip Code | 90813 |
Amenities
| Parking Spaces | 4 |
|---|---|
| # of Garages | 4 |
| Is Waterfront | No |
| Has Pool | No |
| Pool | None |
Interior
| Fireplace | No |
|---|---|
| # of Stories | 2 |
| Has Basement | No |
Additional Information
| Date Listed | May 1st, 2024 |
|---|---|
| Days on Market | 18 |
| Zoning | LBIL |
| Foreclosure | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Cameron Samimi (02035763) |
|---|---|
| Office | Lyon Stahl Investment Real Estate, Inc. |