1409 Magnolia Ave, Long Beach, CA 90813

1409 Magnolia Ave, Long Beach, CA 90813

Long Beach, CA

Property Description

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 $11,050/month and operates at a 5.06% CAP and 13.31 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.

Property Features

  • Sale Price: $1,785,000
  • Area Size: 4,592 Sq. Ft.
  • Year Built: 1925
  • Listing Date: 8/12/2022
  • Units: 6
  • Current GRM: 13.31
  • Current Cap Rate: 5.06%

Lyon Stahl Investment Real Estate

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