CA > Long Beach
Long Beach, CA 90813,1600 Magnolia AVE
Long Beach, CA 90813,1600 Magnolia AVE
Long Beach, CA 90813,1600 Magnolia AVE
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$1,395,000
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8 BD
5 BA
3,366 SqFt
Price Dropped by $55K

1600 Magnolia AVE Long Beach, CA 90813

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Bernadette "REALTOR IN RED" Somera

Bernadette "REALTOR IN RED" Somera

+1(619) 931-9854

UPDATED:

11/10/2024 06:41 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,366 sqft

Price per Sqft $414

MLS Listing ID 24439935

Bedrooms 8

HOA Y/N No

Year Built 1955

Lot Size 3,650 Sqft

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 4 - Downtown Area, Alamitos Beach

Zoning LBR4N

Interior

Heating Wall Furnace

Cooling None

Fireplaces Type None

Fireplace No

Appliance Disposal

Laundry See Remarks

Exterior

Garage Spaces 4.0

Garage Description 4.0

Pool None

View Y/N No

View None

Roof Type Shingle

Porch None

Total Parking Spaces 4

Private Pool No

Building

Story 2

Entry Level Two

Foundation Raised

Sewer Sewer Tap Paid

Water Public

Level or Stories Two

New Construction No

Schools

School District Long Beach Unified

Others

Senior Community No

Tax ID 7269038006

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by Melissa Barlow • Elite Representation Real Estate

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Bernadette "REALTOR IN RED" Somera

Agent | License ID: 01377020

+1(619) 931-9854

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1600 Magnolia AVE