1600 Magnolia Avenue
Long Beach, CA, 90813
$1,450,000
Beds
0 Baths
SqFt
0.08 Acres
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Excellent opportunity to acquire a stable 4-unit building in the Alamitos Beach area of Long Beach. 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 3 baths. Upstairs there are two 1-bed and 1 bath units and one 3-bed 1 bath unit.

Property Details

Price:
$1,450,000
MLS #:
24439935
Status:
Active
Baths:
0
Address:
1600 Magnolia Avenue
Type:
Residential Income
Neighborhood:
4downtownareaalamitosbeach
City:
Long Beach
Listed Date:
Sep 14, 2024
State:
CA
ZIP:
90813
Lot Size:
3,651 sqft / 0.08 acres (approx)
Year Built:
1955
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Interior

Appliances
Disposal
Cooling
None
Fireplace Features
None
Heating
Wall Furnace

Exterior

Foundation Details
Raised
Garage Spaces
4.00
Parking Spots
4.00
Pool Features
None
Roof
Shingle
Sewer
Sewer Paid
Spa Features
None
Stories Total
2
View
None
Water Source
Public

Financial

Tenant Pays
Gas, Cable T V, Electricity, Trash Collection

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1600 Magnolia Avenue
Long Beach, CA