1409 Magnolia Avenue

Long Beach, CA 90813

PRICE REDUCED

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-$50,000 (-2.94%)

$1,650,000

List Price

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1925

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Property Description

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.

Listing Information

List Price $1,650,000
Status Active
MLS SB24072243
Type Residential Income
Subtype Apartment
Year Built 1925
Lot Size 4,592
Structure Size N/A
DOM 142
Courtesy Of Lyon Stahl Investment Real Estate, Inc.
Listing Agent Cameron Samimi DRE#02035763

Interior Features

Laundry Information
Location(s) None
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Exterior Information

Maps

Listing information courtesy of: Cameron Samimi, Lyon Stahl Investment Real Estate, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 23rd, 2024 at 10:22 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.