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$ 1,650,000
$ 1,625,000 1.5%
1409 Magnolia AVE #1 Long Beach, CA 90813
4,591 Sqft Lot
UPDATED:
Key Details
Sold Price $1,650,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB24250411
Sold Date 02/28/25
HOA Y/N No
Year Built 1925
Lot Size 4,591 Sqft
Property Sub-Type Apartment
Property Description
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 $13,251/month and operates at a 7.08% CAP
and 10.22 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. OM in the supplements.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Zoning LBIL
Interior
Fireplace No
Laundry None
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Urban
Total Parking Spaces 4
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7271009010
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Financing Other
Special Listing Condition Standard
Lease Land No
Bought with Cameron Samimi • Lyon Stahl Investment Real Estate, Inc.