1526 Magnolia Avenue, Long Beach, CA 90813
Fourplex · 2 recorded sales since 2020
Sold May 2022
Listing Agent: Matthew Mahowald (DRE #02001732) · Listing Office: Buckingham Investments, Inc · Contact: 310 982-7055 · Bought with: Wayne Liu · All USA Realty · MLS #SB22058126 · Source: CRMLS
About this fourplex
Turnkey opportunity! This clean and well-maintained 4-unit property is outperforming the local market on many different levels. Each unit was recently taken down to the studs and fully renovated with new kitchens, bathrooms, flooring, appliances, painting, lighting, ceiling fans, etc. Major improvements to the property include new windows, roofs, garages doors, hot water heaters, gates, fences, landscaping, exterior lighting, plumbing, and electrical. The property consists of one 2bed/1bath front house and three 1bed/1bath units in the back with a separate community laundry room and two 1car garages - perfect for an ADU conversion, which can easily add a ton of value. Each unit is in great condition, offers a functional layout, and is separately metered for gas and electricity. Located in the path of progress - this dense rental market is perfect for investors who enjoy low vacancy rates, high market rental rates, and strong long-term appreciation. Close proximity to Downtown Long Beach provides maximum accessibility, with plenty of public transportation, freeway access, and a high walk score. The beach, parks, and other community amenities/ attractions are just minutes away. Long Beach is resurging due to hundreds of millions of dollars invested in private and public developments, a growing local economy with strong employment, and the increasing demand to "live, work, and play" in this remarkable community. This easy to own asset is a great addition to any portfolio!
Listing description from the May 2022 sale, as reported to CRMLS.
Sale history
