848 Magnolia Avenue, Long Beach, CA 90813

About this property

Offering a 4.44% Cap Rate on current rents, 848-850 Magnolia Ave. is a charming duplex made up of (1) 3-bed/1-bath and (1) 2-bed/1-bath in Downtown Long Beach. The property was completely gutted in 2001 with all new copper plumbing, gas & sewer lines, electrical, electrical panels, heaters, and flooring. There are (5) total parking spaces in the backyard, which has been recently repaved. Each unit has their own washer/dryer and is receiving strong rents. This is the perfect opportunity for any buyer or owner/user looking to own a piece of one of Southern California's last affordable beach communities. The three bedroom unit will be ready for owner occupy.

Listing description from the December 2019 sale, as reported to CRMLS.

Sale history

$610,000

Sold December 2019 · listed $619,000, orig. $669,000, on market July 2019 · MLS #SB19167246 · Source: CRMLS

Listing Agent: Cameron Samimi · Listing Office: Lyon Stahl Investment Real Estate, Inc. · Contact: 310-425-9838 · Bought with: Whitney Spatz · Buckingham Investments, Inc

$525,000

Sold May 2018 · listed $490,000, on market February 2018 · MLS #PW18046160 · Source: CRMLS

Listing Agent: Leonardo Sandoval · Listing Office: Financial Access Network · Contact: 714-609-5599 · Bought with: Lisa Dowell · Star Real Estate Harbour Homes

Explore Long Beach