List Search

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

$6,685,000 USD

Apartments For Sale  •  20,424 SF

Property Details

  • Property Type Apartments
  • Total Building Size 20,424 SF
  • Lot Size 0.4 AC
  • Building Class C
  • Year Built 1963
  • Zoning LBPD10
70 Transit Score
70 Walk Score

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

Amenities

  • 24 Hour Access
  • Air Conditioning
  • Laundry Facilities
  • Security System
  • Heating
  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower
  • Online Services
  • Freezer
  • Walk-Up
  • Smoke Detector

Public Transportation

Transit/SubwayDriveWalkDistance
Anaheim Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 2 min 12 min 0.6 mi
Pacific Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 3 min 17 min 0.9 mi
5th Street Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 3 min 20 min 1.0 mi
AirportDriveWalkDistance
Long Beach (Daugherty Field) 11 min - 4.9 mi
Los Angeles International 30 min - 21.1 mi
John Wayne/Orange County 34 min - 21.8 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 14
Type: Covered
Included in Rent: Yes
Robert Stepp 310-463-2916 Stepp Commercial - KWPE
Robert Stepp 310-463-2916 Stepp Commercial - KWPE