1409 Magnolia Avenue, Unit 1
Description
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 6.95%
CAP and 10.38 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...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 6.95%
CAP and 10.38 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.
- Listed by Cameron Samimi • DRE #02035763 • Brokerage DRE #01972083 • Lyon Stahl Investment Real Estate, Inc. • 310-259-7556
Property Details for 1409 Magnolia Avenue, Unit 1
Property Details for 1409 Magnolia Avenue, Unit 1
| Status | Active |
|---|---|
| MLS # | SB24250411 |
| Days on Market | 1 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income / Apartment |
| Year Built | 1925 |
| County | Los Angeles County |
Building Information for 1409 Magnolia Avenue, Unit 1
Property Information for 1409 Magnolia Avenue, Unit 1
- Gross Income: $159,012
- Gross Scheduled Income: $159,012
- Vacancy Allowance Rate: 3
- Net Operating Income: $114,674
- Gross Multiplier: 10.38
- Cap Rate: 6.95
- Operating Expense: $39,568
- Fuel Expense: $0
- Electric Expense: $0
- Insurance Expense: $0
- Professional Management Expense: $0
- Trash Expense: $0
- Water Sewer Expense: $0
- Total Expenses: $39,568
- Tax Tract Number: 8961
- Tax Census Tract: 5754.01
- Tax Lot: 6
- Community Features: Urban
- Laundry: No
- Laundry Features: None
- Entry Location: 1
- Pool Features: None
- Pool Description: None
- Lot Features: 0-1 Unit/Acre
- Number Of Units: 6
- Land Lease: No
- Land Lease Type: Fee
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 4
- Parking Garage Spaces: 4
- Carport Spaces: 0
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $1,795
- Unit Type Total Rent: $1,795
- Unit Type Pro Forma: 2300
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 3
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $2,899
- Unit Type Total Rent: $2,899
- Unit Type Pro Forma: 2899
- Unit Type Type: 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 3
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $2,250
- Unit Type Total Rent: $2,250
- Unit Type Pro Forma: 2899
- Unit Type Type: 3
- Unit Type Units Total: 1
- Unit Type Beds Total: 3
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $2,272
- Unit Type Total Rent: $2,272
- Unit Type Pro Forma: 2899
- Unit Type Type: 4
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $2,300
- Unit Type Total Rent: $2,300
- Unit Type Pro Forma: 2300
- Unit Type Type: 5
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $1,495
- Unit Type Total Rent: $1,495
- Unit Type Pro Forma: 1650
- Unit Type Type: 6
- Rent Controlled: Yes
- Number Of Buildings: 2
- Number Of Separate Electric Meters: 6
- Number Of Separate Gas Meters: 6
- Number Of Separate Water Meters: 1
Property History for 1409 Magnolia Avenue, Unit 1
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 1409 Magnolia Avenue, Unit 1
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Edison Elementary School PublicK to 5 | ||
Washington Middle School Public6 to 8 | ||
Cabrillo High School Public9 to 12 | ||
Educational Partnership High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., Cameron Samimi, DRE #02035763
Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.