848-850 Magnolia Ave, Long Beach, CA 90813

848-850 Magnolia Ave, Long Beach, CA 90813

Long Beach, CA

Property Description

Offering a 4.24% Cap Rate on current rents, 848-850 Magnolia Ave. is a charming duplex made up of (1) 3-bed/1-bath and (1) 2-bed/1-bath in Downtown Long Beach.

The property was completely gutted in 2001 with all new copper plumbing, gas & sewer lines, electrical, electrical panels, heaters, and flooring. There are (5) total parking spaces in the backyard, which has been recently repaved. Each unit has their own washer/dryer and is receiving strong rents.

This is the perfect opportunity for any buyer or owner/user looking to own a piece of one of Southern California’s last affordable beach communities.

Property Features

  • Sale Price: $610,000
  • Area Size: 1,350 SF
  • Land Area: 4,768 SF
  • Year Built: 1908
  • Closing Date: 12/23/19
  • Units: 2
  • Current GRM: 15.70
  • Current Cap Rate: 4.24%
  • Market GRM: 12.46
  • Market Cap Rate: 5.85%

Lyon Stahl Investment Real Estate

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