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 $13,251/month and operates at a 6.95%… Read More CAP and 10.38 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. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., Cameron Samimi 310-259-7556
Listing Snapshot
Days Online
5
Last Updated
Property Type
Apartment
Lot Size
0.11 Acres
Year Built
1925
MLS Number
SB24250411
30 Days Snapshot Of 90813
$540k
-10%
(avg) sold price
1
-85%
home sold
54
-12%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1925, Building area total: 3,992, 2 buildings, Architectural style: , Attached, Common walls: TwoCommonWallsOrMore
Community
Urban
Expenses
Operating expense: $39,568
Garage
4 spaces
Income
Gross income: $159,012, Net operating income: $114,674
Based on information from California Regional Multiple Listing Service, Inc. as of 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.
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