1600 Magnolia Avenue, Long Beach, CA 90813
Property
Sold April 2025
Listing Agent: Melissa Barlow (DRE #01498928) · Listing Office: Elite Representation Real Estate · Contact: 310-387-0482 · Bought with: Jeffrey Isenberg · Buckingham Investments, Inc · MLS #24439935 · Source: CRMLS
About this property
Proforma 7.4 Cap! Excellent opportunity to acquire a stable 4-unit building in the Alamitos Beach area of Long Beach at current 6.23 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.
Listing description from the April 2025 sale, as reported to CRMLS.
Sale history