2140 Magnolia Avenue, Long Beach, CA 90806

About this property

2140 Magnolia Avenue is a 12-unit apartment property in Long Beach, California. This offering presents a great value-add opportunity with 46 percent potential upside in rents. 2140 Magnolia Avenue consists of two six-unit buildings with all one-bedroom/one-bath units that are separately metered for gas and electricity. The property also features a shared laundry room with owned machines and a rear structure with eight single-car garages. This asset boasts several major recent improvements, including a new roof on one of the buildings, some copper plumbing, and updated electrical. The property is located in the South Wrigley neighborhood, a dense rental area with convenient proximity to the 710 Freeway, and just a few blocks west of Pacific Avenue, where a Northgate Supermarket is a short walk away.

Listing description from the September 2023 sale, as reported to CRMLS.

Sale history

$2,300,000

Sold September 2023 · on market July 2023 · MLS #PW23118541 · Source: CRMLS

Listing Agent: Steven Bogoyevac · Listing Office: Steven M. Bogoyevac, Broker · Contact: 562-436-5800 · Bought with: Steven Bogoyevac · Steven M. Bogoyevac, Broker

Explore Long Beach