$1,700,000 Price Analysis   ♡   Long Beach, CA 90813 14 bed 6 bath 3,992 SqFt ($425/SqFt) 4,592SqFt lot. Built 1925 Listed 2024-05-01, Taxes $18,134 | Ⓧ USDA Ineligible due to price & location near Long Beach |
Great Cash-Flow Deal!
Located outside of booming Downtown Long Beach, 1409 Magnolia Ave is a well-maintained 6 unit building with a high yielding unit mix of (3) 3Bed/1Bath, (2) 2Bed/1Bath and (1) 1Bed/1Bath units. The property currently grosses $13, 671/month and operates at a 7.15% CAP and 10.19 GRM.
1409 Magnolia Ave is the ideal investment for investor looking for day 1 cash-flow with significant upside in rental ncome. The subject property is located outside the $6 Billion of development flooding into Downtown LB, including the Long Beach Civic Cen ter, Long Beach Aquarium, OceanAire Project, CSULB Project, CSULB Downtown Village, Broadway Block, the Pacific and Queen Mary Island.
Presented by Cameron Samimi at
Lyon Stahl Investment Re, Inc.
Property MLS #SB24072243 from CRMLS
Lot Size Acres: 0.1054178
Lot Size Source: Assessor
Lot Size Square Feet: 4592
Parking Total: 4
Bedrooms in Unit-1: 2
Bedrooms in Unit-2: 3
Bedrooms in Unit-3: 3
Bedrooms in Unit-4: 3
Bedrooms in Unit-5: 2
Bedrooms in Unit-6: 1
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 1
Total Bathrooms in Unit-5: 1
Total Bathrooms in Unit-6: 1
County: Los Angeles
Cap Rate: 7.15
Source Property Type: Residential Income
Area: 4 - Downtown Area, Alamitos Beach
Source Neighborhood: 4 - Downtown Area, Alamitos Beach
Number of Separate Electric Meters: 6
Number of Separate Gas Meters: 6
Number of Separate Water Meters: 1
Parcel Number: 7271009010
Postal Code Plus 4: 1566
Zoning: LBIL
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $855,780 + $500,820 $1,356,600 | $18,134 |
| 2021 | $622,282 + $371,838 $994,120 | $13,746 |
| 2020 | $615,902 + $368,026 $983,928 | $13,693 |
| 2019 | $603,826 + $360,810 $964,636 | $13,526 |
| 2018 | $591,987 + $353,736 $945,723 | $13,132 |
| 2017 | $580,380 + $346,800 $927,180 | $12,989 |
| 2016 | $419,400 + $228,600 $648,000 | $9,081 |
| 2015 | $419,400 + $228,600 $648,000 | $8,867 |
| 2014 | $333,300 + $181,700 $515,000 | $7,455 |
| 2013 | $318,300 + $181,700 $500,000 | $7,117 |
| 2012 | $270,500 + $154,500 $425,000 | $6,462 |
| 2010 | $356,400 + $203,600 $560,000 | $8,195 |
| 2009 | $378,850 + $216,485 $595,335 | $8,133 |
| 2009 | $377,952 + $215,971 $593,923 | $8,133 |
| 2008 | $371,422 + $212,241 $583,663 | $7,630 |
| 2007 | $364,140 + $208,080 $572,220 | $7,428 |
$1,700,000
CRMLS
Listing removed 2022-11-29
$0
CRMLS
Price Changed 2022-10-31
$1,760,000
CRMLS
Listed 2022-09-12
$1,785,000
CRMLS
Sold 2021-02-01
$1,420,000
Public Record
Sold 2016-01-20
$970,000
CRMLS
Relisted 2015-10-20
$979,000
CRMLS
Listing removed 2015-10-15
$999,000
CRMLS
Listed 2015-09-29
$999,000
CRMLS
Sold 2005-05-26
$560,000
Public Record
Sold 2004-05-12
$475,000
Public Record
Year Built: 1925
Building Features: 2
Common Walls: 2+ Common Walls
Entry Level: 1
Entry Location: Front
Property Age: 99
Property Attached: Yes
Building Total Stories: 2
Structure Type: Apartment
Year Built Source: Assessor
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.