1409 Magnolia Ave, Long Beach, CA 90813
6 Unit Apartment Building | $1,700,000 ($283,333/Unit) | 6.85% Cap Rate | Long Beach, CA 90813
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,700,000
- Property Type
-
Multifamily
- Square Feet
- 3,992 SF
Listing Contacts
Cameron Samimi
Verified Profile
- Property Info
Property Overview
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.
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.
Property Details
- Class
- C
- Year Built
- 1925
- Stories
- 2
- Lot Size (sq. ft)
- 5,663 SF
- Units
- 6
Highlights
- Day 1 cash-flow - Will operate at a 10.45 GRM and 6.85% CAP Rate
- High yielding unit mix of (3) 3Bed/1Bath, (2) 2Bed/1Bath, (1) 1Bed/1Bath
- Located in the booming city of Long Beach
- Tons of parking available for all tenants
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