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848-850 Magnolia Ave, Long Beach, CA 90813

$610,000

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.

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Address

  • City: Long Beach
  • State/county: CA
  • Country: United States

Detail

Updated on January 7, 2020 at 8:57 pm

  • Price: $610,000
  • Sell Date: 12/23/19
  • Property Size: 1,350 Sq Ft
  • Land Area: 4,768 Sq Ft
  • Garage Size: 5
  • Year Built: 1908
  • Property Type: Multifamily
  • Property Status: Sold
  • Numbers of Units: 2
  • GRM: 15.70
  • CAP RATE: 4.24%
  • Market GRM: 12.46
  • Market CAP RATE: 5.85%

Contact info

Cameron Samimi
Cameron Samimi
(310) 880-3855 (310) 259-7556
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