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.