For more information regarding the value of a property, please contact us for a free consultation.
1409 Magnolia AVE Long Beach, CA 90813
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Key Details
Sold Price $1,650,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CRSB24250411
Sold Date 02/28/25
Originating Board California Regional MLS
Year Built 1925
Lot Size 4,592 Sqft
Property Description
Great Cash-Flow Deal! Located just 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 $13,251/month and operates at a 7.08% CAP and 10.22 GRM. 1409 Magnolia Ave is the ideal investment for investor looking for day 1 cash-flow with significant upside in rental income. The subject property is located just outside the $6 Billion of development flooding into Downtown LB, including the Long Beach Civic Center, Long Beach Aquarium, OceanAire Project, CSULB Project, CSULB Downtown Village, Broadway Block, the Pacific and Queen Mary Island. OM in the supplements.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Interior
Laundry None
Exterior
Garage Spaces 4.0
Pool None
Building
Water District - Public
Others
Tax ID 7271009010
Special Listing Condition Not Applicable
Read Less
© 2025 MLSListings Inc. All rights reserved.
Bought with Cameron Samimi