1409 Magnolia Avenue Long Beach, CA ^$ 1,700,000

1409 Magnolia Avenue

^$ 1,700,000

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1409 Magnolia Avenue

Long Beach, CA, 90813

^$ 1,700,000

Bedrooms14 Baths6.0 Sq 3,992

Monthly Estimate*

^$ 11,299

Listed by Lyon Stahl Investment Real Estate, Inc.

1409 Magnolia Avenue, Long Beach, CA 90813 - Image 1

1409 Magnolia Avenue, Long Beach, CA 90813 - Image 2

1409 Magnolia Avenue, Long Beach, CA 90813 - Image 3

1409 Magnolia Avenue, Long Beach, CA 90813 - Image 4

1409 Magnolia Avenue, Long Beach, CA 90813 - Image 5

1409 Magnolia Avenue, Long Beach, CA 90813 - Image 6

1409 Magnolia Avenue, Long Beach, CA 90813 - Image 7

1409 Magnolia Avenue, Long Beach, CA 90813 - Image 8

Multi-Family Home for sale in Long Beach, CA

for $1,700,000 with 14 bedrooms and 6 full baths. This 3,992 square foot home was built in 1925 on a lot size of 0.1054.

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.

Multi-Family Active

Price

^$ 1,700,000

Bedrooms

Full Bath

Property Type

Multi-Family

Taxes

^$ 0

Style

Apartment

Lot Size

0.1054

Year Built

1925

Town/City

Long Beach

County/Region

Los Angeles

MLS | Web ID

SB24072243

Days on Market

Features

General

Sewer PublicSewer

Zoning LBIL

Garage Spaces 4.0

Pool Features None

Year Built 1925

Property SubType Apartment

Gross Income 162663.0

Community Features Urban

County Los Angeles

Net Operating Income 116450.0

Operating Expense 41333.0

Insurance Expense 0.0

New Construction N

Property Type ResidentialIncome

HOA / Comm Assn N

Attached Garage N

Garage Y/N Y

Special Listing Conditions Standard

Status Active

Directions Off Magnolia Off Anaheim

City Long Beach

Entry Location Front

View Y/N N

Senior Community Y/N N

NumberOfUnitsTotal 6

MLS Area 4 - Downtown Area Alamitos Beach

Lot Size Units SquareFeet

Lot Size Square Feet 4592.0

Private Pool N

Waterfront Y/N N

Carport Y/N N

Street Name Magnolia

Listing Terms Cash CashtoNewLoan Conventional Item1031Exchange

Property Attached Y/N Y

Land Lease Y/N N

Electric Expense 0.0

Home Warranty Y/N N

Fuel Expense 0.0

Trash Expense 0.0

Water Sewer Expense 0.0

Lease Renewal Y/N N

Additional Parcels Y/N N

Lease Considered Y/N N

Rent Control Y/N Y

Days on Market 5

Building Area Units SquareFeet

Standard Status Active

Year Built Source Assessor

Tax Lot 6

Property Sub Type Additional Apartment

Expected Active Date 2024-05-01

Cap Rate 6.85

Exterior

Lot Features Item01UnitAcre

Water Source Public

Total Parking 4.0

Lot Size Area 4592.0

Number of Buildings 2

Spa N

Building Area Total 3992.0

Street Suffix Avenue

Lot Size Acres 0.1054

Lot Size Source Assessor

Number of Separate Water Meters 1

Number of Separate Gas Meters 6

Number of Separate Electric Meters 6

Crops Included Y/N N

Open Parking Y/N N

Horse Y/N N

Irrigation Water Rights Y/N N

Interior

Total Stories 2

Common Walls Item2CommonWalls

Basement (Y/N) N

Air Conditioning Y/N N

Heating Y/N N

Fireplace Y/N N

Laundry Features None

Entry Level 1

Electric On Property Y/N N

Internal Only

Street Number 1 1409

* Excluded Features

List By

Lyon Stahl Investment Real Estate, Inc.

Broker

(310) 425-9838

Phone

Affordability Calculator

$11,299

Per Month

Monthly Principal & Interest: $11,299
Monthly Property Taxes: --
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Long Beach, CA

Average List Price ^$2,062,616

Percent of Sale Price 21%

About Long Beach, CA

470,090 Population

2% Since 2002

^$57,916 Median Income

35.78 Median Age

30% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

273443 Elementary School

272636 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
5/1/2024	$1,700,000		Listed Price

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1409 Magnolia Avenue, Long Beach, CA, 90813 is a Multi-Family Home for sale at $1,700,000 with 3,992 sqft and a lot size of 0.1054. 1409 Magnolia Avenue has 14 bedrooms, 6.0 baths, and was built in 1925. The property's zip code is 90813 which is in Long Beach, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the California Regional Multiple Listing Service, Inc..

Based on information from California Regional Multiple Listing Service, Inc. as of 6/8/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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1409 Magnolia Avenue

Multi-Family Home for sale in Long Beach, CA

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