$1,395,000
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1600 Magnolia Avenue Long Beach, CA 90813
Cluster
Residence
8
Beds
5
Baths
3,366
Sq. Ft.
0.08
Acre
Lot
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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 Pik...e 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.
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MLS#
24439935
Property Type
Cluster
Status
Bedrooms
8
Bathrooms
Year Built
1955
Square Feet
3,366
sq. ft
Lot Size
0.08
Stories
2.0
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