$1,395,000
$55k
1600 Magnolia Ave, Long Beach, CA 90813
- 8Beds
- 5Baths
- 3366SqFt
- 8Beds
- 5Baths
- 3366SqFt
- Property TypeCondo
- Year Built1955
- Price per Sqft$414
- On highrises67 Days
- Garage4 Cars
Property Details
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 Features
Bedrooms
- Bedrooms: 8
Property History
Neighborhood
Environmental Risk
Nearby Home Values
- Presented by:
- Melissa Barlow
- state license#01498928
- Brokered by:
- Elite Representation Real Estate
- (310) 387-0482