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$ 1,395,000
Est. payment /mo
Active
1600 Magnolia Avenue Long Beach, CA 90813
8 Beds
3,366 SqFt
UPDATED:
11/10/2024 07:03 PM
Key Details
Property Type Other Types
Sub Type OTHER
Listing Status Active
Purchase Type For Sale
Square Footage 3,366 sqft
Price per Sqft $414
MLS Listing ID CL24439935
Bedrooms 8
HOA Y/N No
Year Built 1955
Lot Size 3,651 Sqft
Acres 0.08
Property Description
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.
Location
State CA
County Los Angeles
Area Listing
Zoning LBR4
Interior
Heating Wall Furnace
Cooling No Air Conditioning
Fireplace No
Laundry See Remarks
Exterior
Utilities Available Other Water/Sewer
View Y/N false
View None
Total Parking Spaces 4
Building
New Construction No
Others
Tax ID 7269038006
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Melissa Barlow • Elite Representation Real Estate