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1600 Magnolia Avenue
Long Beach, CA 90813
Proforma 6.4 Cap! Excellent opportunity to acquire a stable 4-unit building in the Alamitos Beach area of Long Beach at current 5.23 Cap rate. This building is only 16-17 blocks to Shoreline Village, Long Beach Convention Center, Aquarium of the Pacific, and everything else fantastic about the Pike area of the Long Beach Shoreline. The immediate few block radius has been going through a renaissance with new construction evident all around. Fancy up this building to have a strong long term hold asset to take full advantage of Long Beach's strong future. This property was formally converted from a 5-unit building to a 4-unit building. Enjoy 30 year fixed residential financing! There is a laundry room that was not used by the current owners which can provide additional income and increase the cap rate. Each unit has a 1-car garage. Downstairs unit is 3 beds and 2 baths. Upstairs there are two 1-bed and 1 bath units and one 3-bed 1 bath unit.
PROPERTY INFORMATION
| MLS # | 24439935 | Lot Size | 3,651 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 1,395,000
Price Per SqFt: $ 414 |
DOM | 235 Days |
| Address | 1600 Magnolia Avenue | Type | Residential Income |
| City | Long Beach | Sq.Ft. | 3,366 Sq. Ft. |
| Postal Code | 90813 | Garage | 4 |
| County | Los Angeles | Year Built | 1955 |
| Bed / Bath | 8 / 0 | Parking | 4 |
| Built In | 1955 | Status | Active |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | See Remarks |
| Has Fireplace | No |
| Fireplace Information | None |
| Has Appliances | Yes |
| Kitchen Appliances | Disposal |
| Has Heating | Yes |
| Heating Information | Wall Furnace |
| Has Cooling | No |
| Cooling Information | None |
| Has Spa | No |
| SpaDescription | None |
EXTERIOR FEATURES
| FoundationDetails | Raised |
| Roof | Shingle |
| Has Pool | No |
| Pool | None |
| Has Patio | No |
| Patio | None |
| Has Sprinklers | No |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,488
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 09/15/2024 | Listed | $1,450,000 |
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Listing provided courtesy of Melissa Barlow, Elite Representation Real Estate. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
