1950 Magnolia Avenue, Long Beach, CA 90806

Description

The Best Priced Duplex in Long Beach. 2 units in Long Beach NOT subject to local rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7%). Located by the Wrigley Area a short drive from Down Town where over $8BB of redevelopment is occurring. On a beautiful, quiet, tree lined street. Excellent Owner User opportunity as well - live in one unit and offset your mortgage with the rent from the other. The property features two 3 bed/1 bath units with a private courtyard and a 3 car garage in the rear (separate structure). Both units are currently rented ($2900 and $3200). The remodeled unit will be delivered vacant (current tenants are moving out at the end of July). The garages are rented for an additonal $300/month. One of the units has been heavily updated. There is the potential to convert the garages to an ADU - Buyer to verify. This could add a 3rd unit and generate significant rental income. The property is well maintained and has been updated as follows: All new Pex water supply lines in both units - done in 2022. All new ABS drain/sewer lines in both units - done in 2022. All new gas lines in Unit 1950 - done in 2022. Completely remodeled Unit 1950 - new flooring, paint, fixtures, countertops, vanity, tub, tile, new stove, microwave, dishwasher, fridge, and all new double-pane vinyl windows - done in 2024. A new owner could owner occupy one of the units within a few months of the close of escrow. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. The Long Beach Airport is also undergoing a $37MM remodel in preperation for the 2028 Olympics.

Listing description from the August 2026 sale, as reported to CRMLS.

Sale history

$940,000

Sold August 2026 · listed $949,000, orig. $979,000, on market March 2026, 124 days on market · MLS #26665805 · Source: CRMLS

Listing Agent: Jonathan Swire · Listing Office: The Agency · Contact: 424-230-3700 · Bought with: Lauren Friedman · Keller Williams Pacific Estate

$920,000

Sold May 2022 · listed $850,000, on market April 2022, 13 days on market · MLS #22143315 · Source: CRMLS

Listing Agent: Jason Hastings · Listing Office: Compass · Contact: 310-652-6285 · Bought with: Jeffrey Isenberg · Buckingham Investments, Inc

$599,999

Sold October 2017 · on market September 2017, 6 days on market · MLS #PW17210745 · Source: CRMLS

Listing Agent: Greg Foster · Listing Office: The Brokerage · Contact: 949-788-1000 · Bought with: Kevin Hoban · Buckingham Investments, Inc.

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