1153-1161 Magnolia Ave - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$6,685,000 USD
310-463-2916
1153-1161 Magnolia Ave, Long Beach, CA for Sale
$6,685,000 USD
Apartments - FOR SALE
1/12
null | 6.02% Cap Rate

1153-1161 Magnolia Ave
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • Strong 6.02% Day-One Cap Rate
  • 28-Unit Apartment Community - Balanced Mix of (14) 1BD and (14) 2BD Units
  • Attractive Price of $238,750 per Unit
  • Current Rents Approx. $100+ per unit Below Market
  • 14 Private Garages with Income Potential
  • Immediate Cash Flow with Limited CapEx Requirement

OVERVIEW

153-1161 Magnolia Avenue offers investors the opportunity to acquire a stabilized 28- unit apartment community that generates attractive day-one cash flow while providing meaningful long-term rental upside. Unlike many value-add investments that require significant renovation capital, the property delivers strong in-place income with the opportunity to increase revenues through natural tenant turnover and disciplined asset management. The property’s balanced unit mix, attractive central courtyard, fourteen private garages, and on-site laundry facilities create a highly desirable living environment that supports tenant retention while providing additional income opportunities. Located in one of Southern California’s strongest rental markets, the property benefits from Long Beach’s expanding aerospace, healthcare, logistics, and technology sectors, creating long-term demand for quality workforce housing. Combined with strong current returns, modest rental upside, and limited operational risk, Magnolia Avenue represents an exceptional opportunity for investors seeking both dependable income and future appreciation.

FOR SALE DETAILS

PRICE

$6,685,000 USD

PRICE/SF

$327 USD /SF

# OF UNITS

28

PRICE/UNIT

$238,750

CAP RATE

6.02%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Magnolia Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

28

LAND DETAILS

LAND ACRES

0.4 AC

LAND SF

17,424 SF

ZONING

LBPD10

APN/PARCEL ID

7272-003-009,7272-003-011

ASK ABOUT THIS PROPERTY

Robert SteppStepp Commercial - KWPEMore Info
310-463-2916

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Robert SteppStepp Commercial - KWPEMore Info
310-463-2916

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.