429 Magnolia Ave
Long Beach, CA 90802
Multifamily Property For Sale
·
5 Units
Property Facts
| No. Units | 5 | Lot Size | 0.20 AC |
| Property Type | Multifamily | Building Size | 4,032 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1913 |
| Building Class | C | Parking Ratio | 1.74/1,000 SF |
| Zoning | LBPD30 | ||
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 4,032 SF |
| No. Stories | 2 |
| Year Built | 1913 |
| Parking Ratio | 1.74/1,000 SF |
| Zoning | LBPD30 |
About 429 MAGNOLIA AVE , LONG BEACH, CA 90802
Marcus & Millichap is pleased to present 429 Magnolia Avenue, a five-unit multifamily investment opportunity in rapidly redeveloping downtown Long Beach, California. The property is located conveniently near the 710 Freeway and the numerous dining, shopping, and entertainment opportunities downtown offers. The offering comprises three buildings: two rear duplexes with all one-bedroom/one-bath units, and a front house with four bedrooms and two-and-one-half baths, and laundry hookups. The units are separately metered for gas and electricity. The property also features new exterior paint, a single-car garage and six surface parking spaces, and patio areas for tenants’ enjoyment. Additionally, the duplexes have new copper plumbing, and one one-bedroom unit has been recently renovated with new tile and wood flooring, modern soft-close cabinetry, granite counter tops, a stainless steel appliance package, new windows, can lighting, and more. With great cash flow on current rents and potential upside, 429 Magnolia Avenue presents an excellent opportunity to acquire a strong-performing asset in an area poised for growth.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+2 | 1 | $2,300 | - |
| 1+1 | 4 | $1,383 | - |
Property Taxes
| Parcel Number | 7278-026-013 | Improvements Assessment | $492,505 |
| Land Assessment | $914,654 | Total Assessment | $1,407,159 |
Property Taxes
