Long Beach, CA 90813 1409 Magnolia Avenue
$1,650,000
3 more
Presented By: Cameron Samimi with Lyon Stahl Investment Real Estate, Inc.; 310-259-7556
SQFT • 3,992
Garage • 4
Home Details
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.
Presented By: Cameron Samimi with Lyon Stahl Investment Real Estate, Inc.; 310-259-7556
Interior Features for 1409 Magnolia Avenue
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesNone
Total Stories2
Other Rooms
Entry Level1
General for 1409 Magnolia Avenue
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate7.31
Carport Y/NNo
CityLong Beach
Community FeaturesUrban
CountyLos Angeles
Days on Market142
DirectionsOff Magnolia, Off Anaheim
Electric Expense0.0
Electric On Property Y/NNo
Entry LocationFront
Expected Active Date 2024-05-01
Fuel Expense0.0
Garage Spaces4.0
Garage Y/NYes
Gross Income165072.0
Home Owner AssocNo
Home Warranty Y/NNo
Insurance Expense0.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Lot Size Square Feet4592.0
Lot Size UnitsSquareFeet
MLS Area4 - Downtown Area, Alamitos Beach
MobileHomeRemainsYNNo
Net Operating Income120552.0
New ConstructionNo
NumberOfUnitsTotal6
Operating Expense39568.0
Pool FeaturesNone
Private PoolNo
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Tax Lot6
TermsCash, CashToNewLoan, Conventional, Exchange1031
Trash Expense0.0
View Y/NNo
Water Sewer Expense0.0
Waterfront Y/NNo
Year Built1925
Year Built SourceAssessor
ZoningLBIL
Exterior for 1409 Magnolia Avenue
Building Area Total3992.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesZeroToOneUnitAcre
Lot Size Acres0.1054
Lot Size Area4592.0
Lot Size SourceAssessor
Number of Buildings2
Number of Separate Electric Meters6
Number of Separate Gas Meters6
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking4.0
Water SourcePublic
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480