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Dilbeck Real Estate
Real Living
818-790-6774

1146 Magnolia, Long Beach CA, 90813

(Active)
$4,600,000
|
22,998 sqft
|
MLS# PW14113072
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Listing Provided Courtesy Of: Keller Williams Pacific Estat
Last Updated: 10/20/2014 5:31 PM
Description for 1146 Magnolia Long Beach, CA 90813
1146-1152 Magnolia Ave, Long Beach. This is a meticulously maintained 32 unit building in a great rental area of LB. 2 buildings on 2 parcels (1146 Magnolia = 7272004010, 1152 Magnolia = 7272004009). A great mix of 24 - 1 Bed/1 Bath units and 8 - 2 Bed /1 Bath units. Buildings are very sizable (22,998 sq ft). A large lot (18,197 sq ft) offers tenants a spacious courtyard and garage/parking area. All electric building - individually metered and each unit has it's own water heater (keeps expenses down). Milgard dual pane windows throughout building. 2 laundry facilities w/ seller's own machines. 19 enclosed garages = extra income. There is definite room to raise rents - NO rent control in LB. Please call for further income and expense information on this well managed building. This is a great opportunity for the savvy Long Beach investor to add an incredible building to your portfolio! Income is actual and expenses are estimated. Proforma rent for 2 bedrooms is $1200. Proforma rent for 1 bedrooms is $950. Total monthly Proforma income = $33,700. Annual Proforma income = $404,400/yr - GRM = 11.37 - Proforma Cap = 6.40%
Price
$4,600,000
Other (Othr)
Los Angeles
22,998 (approx)
PW14113072
Active
Description
1146-1152 Magnolia Ave, Long Beach. This is a meticulously maintained 32 unit building in a great rental area of LB. 2 buildings on 2 parcels (1146 Magnolia = 7272004010, 1152 Magnolia = 7272004009). A great mix of 24 - 1 Bed/1 Bath units and 8 - 2 Bed /1 Bath units. Buildings are very sizable (22,998 sq ft). A large lot (18,197 sq ft) offers tenants a spacious courtyard and garage/parking area. All electric building - individually metered and each unit has it's own water heater (keeps expenses down). Milgard dual pane windows throughout building. 2 laundry facilities w/ seller's own machines. 19 enclosed garages = extra income. There is definite room to raise rents - NO rent control in LB. Please call for further income and expense information on this well managed building. This is a great opportunity for the savvy Long Beach investor to add an incredible building to your portfolio! Income is actual and expenses are estimated. Proforma rent for 2 bedrooms is $1200. Proforma rent for 1 bedrooms is $950. Total monthly Proforma income = $33,700. Annual Proforma income = $404,400/yr - GRM = 11.37 - Proforma Cap = 6.40%
Listing Information
Property Type: Cluster
0.42 Acres 22,998 (approx) $200.02
1963 Yes- 19 spaces
Other (Othr)
Sewer at Street
32 Total
Neighborhood
Room Information
Common
Interior Features
Range/Oven Free Standing
Carpet Wall to Wall, Ceramic Tile
None
Radiant
No Fireplace
Exterior / Lot Features
19 Garage Spaces, 19 Parking Spaces, Garage
None
No Pool
Sidewalks, Alley Access
Driving Directions
South of Anaheim, North of 10th, on the east side of Magnolia Ave
Financial Considerations
7272004010
$363,720 Income ,$88,202Expense
Listing Price History

Long Beach Real Estate

Long Beach is located in California. Long Beach, California 90813 has a population of  463,589.

The median household income in Long Beach, California 90813 is $52,900. The median household income for the surrounding county is $56,241 compared to the national median of $53,046. The median age of people living in Long Beach 90813 is 33.2 years.

Sales History
Tax Info
Listing Provided Courtesy Of: Keller Williams Pacific Estat Julie Hughes
Based on information from California Regional Multiple Listing Service, Inc. as of today. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
Information is deemed reliable but is not guaranteed.

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409774 - Dilbeck Real Estate
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