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Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc.
$ 1,625,000
Est. payment | /mo
3,992 SqFt
$ 1,625,000
Est. payment | /mo
3,992 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 3,992 sqft
Price per Sqft $407
MLS Listing ID CRSB24250411
HOA Y/N No
Originating Board Datashare California Regional
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
Interior
Fireplace No
Laundry No Hookups
Building
Water Public
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