1518 Magnolia Ave, Long Beach, CA 90813

1518 Magnolia Ave, Long Beach, CA 90813

Long Beach, CA

Property Description

Great Cash-Flow Deal located just outside of Downtown Long Beach, in the Washington submarket. The property currently collects $8,548/month in gross income and is operating at a 4.86% CAP and 13.50 GRM. 1518 Magnolia Ave has a unit mix of (3) 2Bed+1Bath and (2) 1Bed+1Bath units. There are also 3 garages spots and laundry on-site. 1518 Magnolia Ave is the ideal opportunity for any investor looking for day 1 cash-flow with rental upside. The subject property is located just outside the $6 Billion of development flooding Downtown Long Beach, including the Long Beach Civic Center, Long Beach Aquarium, OceanAire Project, CSULB Downtown Village, Broadway Block, the Pacific and Queen Mary Island.

Property Features

  • Sale Price: $1,385,000
  • Area Size: 3,068 Sq. Ft.
  • Land Area: 3,651 Sq. Ft.
  • Year Built: 1963
  • Listing Date: 9/07/2022
  • Closing Date: 10/24/2022
  • Units: 5
  • Current GRM: 13.50
  • Current Cap Rate: 4.86%

Lyon Stahl Investment Real Estate

Keep In Touch