1409 Magnolia AveLong Beach, CA 90813

This exceptional investment opportunity presents a well-maintained, six-unit apartment building situated at 1409 Magnolia Ave, Long Beach, CA 90813. The property boasts a desirable unit mix, including three 3-bedroom/1-bathroom units, two 2-bedroom/1-bathroom units, and one 1-bedroom/1-bathroom unit, totaling 3,992 net rentable square feet. Built in 1925, this Class B property sits on a 4,605 square foot lot and comprises two, two-story buildings. Currently generating a Net Operating Income (NOI) of $120,552, resulting in a 7.31% capitalization rate (Cap Rate), this property offers significant upside potential. Pro-forma NOI is projected at $134,248, increasing the Cap Rate to 8.14%. The asking price is $1,650,000, or $275,000 per unit. Ample parking is available for all tenants. The property's location just outside of Downtown Long Beach offers proximity to major developments, including the Long Beach Civic Center, Aquarium, and numerous ongoing projects, promising strong future rental growth. This is an ideal investment for buyers seeking immediate cash flow and substantial long-term appreciation potential. The property's strong current performance and promising future make it a compelling opportunity in a thriving market.