Great Cash-Flow Deal! Located just outside ofbooming Downtown Long Beach, 1409 Magnolia Aveis a well-maintained 6 unit building with a highyielding unit mix of (3) 3Bed/1Bath, (2) 2Bed/1Bath,and (1) 1Bed/1Bath units. The property currentlygrosses $13,756/month and operates at a 7.30%CAP and 10.00 GRM. 1409 Magnolia Ave is the idealinvestment for investor looking for day 1 cash-flowwith significant upside in rental income.The subject property is located just outside the $6Billion of development flooding into Downtown LB,including the Long Beach Civic Center, Long BeachAquarium, OceanAire Project, CSULB Project, CSULBDowntown Village, Broadway Block, the Pacific andQueen Mary Island.
|
DAYS ON MARKET
|
206
|
LAST UPDATED
|
9/10/2024
|
|
YEAR BUILT
|
1925
|
COMMUNITY
|
Downtown Area, Alamitos Beach
|
|
GARAGE SPACES
|
4.0
|
COUNTY
|
Los Angeles
|
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
|
Prior to Sep 10, '24
|
$1,700,000
|
| Sep 10, '24 - Today |
$1,650,000 |
| AREA |
Downtown Area, Alamitos Beach |
| GARAGE |
Yes |
| LOT |
4592 sq ft |
| LOT DESCRIPTION |
0-1 Unit/Acre |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
2 |
| WATER |
Public |
| ZONING |
LBIL |
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Listed with Lyon Stahl Investment Real Estate, Inc.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 11/23/24 1:57 AM PST and /or other sources. 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
This IDX solution is (c) Diverse Solutions 2024.
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