429 Magnolia Avenue, Long Beach, CA 90802
Property · 2 recorded sales since 2018
Sold November 2020
Listing Agent: Kevin King (DRE #01158184) · Listing Office: Marcus & Millichap · Contact: 562-257-1200 · Bought with: General NONMEMBER · NONMEMBER MRML · MLS #PW19271304 · Source: CRMLS
About this property
We are pleased to present a 5 unit apartment building located in Long Beach, California. Built in 1913, the subject property consists of 4,032 rentable square feet spread throughout a 8,709 square foot lot. The building consists of 4 units with 1-Bedroom / 1-Bathroom and 1 unit with 4-Bedrooms / 2.5-Bathrooms. This building is located two blocks away from the Long Beach Courthouse and walking distance to Downtown Long Beach. Tenants have convenient access to freeways as well as many shops and restaurants. Owners enjoy the high demand for rentals in a coastal city of Southern California. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The $495 million Long Beach Courthouse was recently completed and opened in September 2018. Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This is an excellent opportunity to acquire a quality asset in a great location with true rental upside and stable return.
Listing description from the November 2020 sale, as reported to CRMLS.
Sale history
