1600 Magnolia Avenue, Long Beach, CA 90813
-
Listed Price :
$1,395,000
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Beds :
8
-
Baths :
5
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Property Size :
3,366 sqft
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Year Built :
1955
Property Description
Proforma 6.4 Cap! Excellent opportunity to acquire a stable 4-unit building in the Alamitos Beach area of Long Beach at current 5.23 Cap rate. This building is only 16-17 blocks to Shoreline Village, Long Beach Convention Center, Aquarium of the Pacific, and everything else fantastic about the Pike area of the Long Beach Shoreline. The immediate few block radius has been going through a renaissance with new construction evident all around. Fancy up this building to have a strong long term hold asset to take full advantage of Long Beach's strong future. This property was formally converted from a 5-unit building to a 4-unit building. Enjoy 30 year fixed residential financing! There is a laundry room that was not used by the current owners which can provide additional income and increase the cap rate. Each unit has a 1-car garage. Downstairs unit is 3 beds and 2 baths. Upstairs there are two 1-bed and 1 bath units and one 3-bed 1 bath unit.
Interior Features
| Laundry Information |
| Location(s) |
See Remarks |
| Bedroom Information |
| Bedrooms |
8 |
| Bathroom Information |
| Bathrooms |
5 |
| Interior Information |
| Cooling Type |
None |
Listing Information
| Address |
1600 Magnolia Avenue |
| City |
Long Beach |
| State |
CA |
| Zip |
90813 |
| County |
Los Angeles |
| Listing Agent |
Melissa Barlow DRE #01498928 |
| Courtesy Of |
Elite Representation Real Estate |
| List Price |
$1,395,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
3,366 |
| Lot Size |
3,651 |
| Year Built |
1955 |
Listing information courtesy of: Melissa Barlow, Elite Representation Real Estate. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 5th, 2024 at 3:47 AM 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.
