1600 Magnolia Avenue
Long Beach, CA 90813
- 8 beds
- – baths
- 3,366 sqft
- 3,651 sqft lot
- $414 per sqft
- 1955 build
- – on site
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.
Last checked:
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Checking…
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Last updated Dec 14, 2024
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MLS# CL24439935 —
This property is listed in more than one place. See it here.
The Building
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Year Built:1955
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Building Area Units:Square Feet
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Construction Materials:Stone
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Other Equipment:Other
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Building Area Total:3366
Room Dimensions
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Living Area:3366
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Living Area Units:Square Feet
Location
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Directions:Magnolia Avenue and Pacific Coast Highway
The Property
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Property Type:Residential Income
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Property Subtype:OTHER
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Parcel Number:7269038006
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Zoning:LBR4
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Lot Size Area:0.08
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Lot Size Acres:0.08
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Lot Size SqFt:3651
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Lot Size Units:Acres
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View:None
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View:false
Listing Agent
- Contact info:
- Agent phone:
- (310) 387-0482
Beds
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Bedrooms Total:8
Heating & Cooling
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Heating:Wall Furnace
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Heating:true
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Cooling:No Air Conditioning
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Cooling:true
Utilities
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Utilities:Other Water/Sewer
Appliances
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Laundry Features:See Remarks
The Community
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Association:false
Parking
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Parking Total:4
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
11/10/24
Nov 10, 2024
|
Price Changed | BRIDGE | $1,395,000 | -3.8% |
|
9/15/24
Sep 15, 2024
|
Listed / Active | BRIDGE | $1,450,000 |
