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1518 Magnolia AVE Long Beach, CA 90813
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Key Details
Sold Price $1,325,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB22185739
Year Built 1963
Lot Size 3,650 Sqft
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 5.03% CAP and 13.15 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.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Zoning LBR4N
Interior
Laundry Inside
Exterior
Garage Spaces 3.0
Garage Description 3.0
Pool None
Community Features Biking, Curbs, Urban
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
Read Less
Bought with Kimiyasu Murayoshi • Andrew C. Lee