2250 Magnolia Ave - Multi-Family FOR SALE


Long Beach, CA 90806- Wrigley
$1,175,000 USD
310-259-7556
2250 Magnolia Ave, Long Beach, CA for Sale
$1,175,000 USD
Multi-Family - FOR SALE
1/34
null | 3.23% Cap Rate

2250 Magnolia Ave
Long Beach, CA 90806
Wrigley


HIGHLIGHTS

  • VACANT 2 Bedroom - Move In Ready
  • ALL NEW copper plumbing, electrical rewiring, breaker box and vinyl windows in 2018
  • Low-Maintenance Residential Asset — Clean, well-kept property with manageable expenses and tenant-paid gas and electric
  • Generous Lot Size — Approximately 6,501 square feet of land provides flexibility and long-term value-add potential

OVERVIEW

TWO-BEDROOM UNIT AVAILABLE FOR OWNER-OCCUPIED BUYER. Meticulous updates in 2018. Owner Installed ALL NEW copper plumbing throughout, fully rewired with ALL NEW electrical, breaker box and ALL NEW vinyl windows. Located in Long Beach, this well-maintained two-unit residential property totals approximately 2,416 square feet on a generous 6,501 square foot lot. Built in 1934 and zoned LBR2N, the property features two 2-bedroom/1-bath units with current scheduled gross income of approximately $62,040 and pro forma scheduled gross income of approximately $63,600. This asset presents an excellent opportunity for an owner-user or investor seeking stable rental income, rental upside, and long-term appreciation in a strong Long Beach rental market.

FOR SALE DETAILS

PRICE

$1,175,000 USD

PRICE/SF

$486 USD /SF

# OF UNITS

2

PRICE/UNIT

$587,500

CAP RATE

3.23%

% LEASED

50%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1934

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,501 SF

ZONING

LBR2N

APN/PARCEL ID

4039-024-006

ASK ABOUT THIS PROPERTY

Cameron SamimiLyon Stahl Investment Real EstateMore Info
310-259-7556

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Cameron SamimiLyon Stahl Investment Real EstateMore Info
310-259-7556

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