1409 Magnolia AveLong Beach, CA 90813

Property Details for 1409 Magnolia Ave

Year built

1925

Construction

WOOD

Lot size

0.11 AC

Property size (Sq ft)

3,992 SF

Zone code

LBIL

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

7271-009-010

APU

7271009010

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,174,798

  6.5%

  $1,084,428

  7%

  $1,006,969

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,973,721

  Geo Method

  $1,973,721

• Alternative Use

  Use

  Valuation

  Residential

  $1,084,428

  Hospitality

  $993,331

  Educational

  $826,440

  Medical

  $854,862

  Retail

  $1,285,572

Location Insight

City

Long Beach

County

Los Angeles

State

California

Latitude

33.7843

Longitude

-118.198

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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