1030 Magnolia Ave Long Beach, CA 90813

$2,022,000 Sold Price as of 08/16/2017

10 Beds
10 Baths
5,064 Sq.Ft.

Off Market

$2,022,000 Sold Price as of 08/16/2017 Refinance Your Mortgage

Map preview of 1030 Magnolia Ave, Long Beach, CA 90813

Property Overview: 1030 Magnolia Ave Long Beach, CA has 10 bedrooms, 10 bathrooms, 5,064 living square feet and 7,874 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

1030 Magnolia Ave is currently an off market home in the city of Long Beach. If you are considering making a home purchase, the value you pay for your home will depend on the market you're looking to purchase in. The city of Long Beach has a median list price of $780,000. The median price per/sqft for Long Beach is $646. With those numbers in mind, if you are looking to purchase a median priced home in Long Beach, CA and put 20% down you will need to save up $156,000 for the down payment and will need roughly $15,600 for closing costs on top of the down payment. Homeowners who are looking to sell their home could expect to pay an average of 5% (2.5% to the listing agent and 2.5% to the buyers agent) in agent commissions when it comes to selling their home. With the median sale price for a home in Long Beach the commission could be as much as $40,950. If you're thinking of selling and want to save, contact a local Ardent Real Estate Agent today.

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Sale History for 1030 Magnolia Ave

Last sold for $2,022,000 on August 17th, 2017

August, 2017
Aug 18, 2017

Date

Sold

CRMLS: RS17130123

$2,022,000

Price
Jun 26, 2017

Date

Active Under Contract

CRMLS: RS17130123

$1,995,000

Price
Jun 12, 2017

Date

Active

CRMLS: RS17130123

$1,995,000

Price
Listing provided courtesy of CRMLS

Built in 1923, the subject property is a Spanish-style apartment complex comprised of Ten bungalow style One Bedroom / One Bath units averaging 507 square feet each. Current ownership completely renovated all Ten units periodically over the past two years with the intent on holding this asset. The most recent unit was recently rented for $1,295, which is $200 more than the lowest in-place rents of $1,095. True value-add investment opportunity with all the renovation work already completed, making it easy for a new owner to simply raise the remaining rents to market, as Long Beach is NOT subject to rent control. The property is separately metered for gas & electricity and has an on-site laundry facility not currently being utilized due to an expired lease contract with CSC. A new owner could install owned laundry and implement a tenant utility reimbursement program for an additional income boost.

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August, 2017
Aug 16, 2017

Date

Sold (Public Records)

Public Records

$2,022,000

Price
December, 2014
Dec 11, 2014

Date

Sold (Public Records)

Public Records

$975,000

Price

Tax History for 1030 Magnolia Ave

Assessed Value (2020): $2,104,237

Year	Land Value	Improved Value	Assessed Value
2020	$1,472,166	$632,071	$2,104,237

About 1030 Magnolia Ave

Detailed summary of property

1030 Magnolia Ave is categorized with a use code of Apartment House (5+ Units) in Long Beach, CA 90813 and last sold on August 16, 2017 for $2,022,000. This property has 10 bedrooms, 10 bathrooms, roughly 5,064 living square feet, and sits on an approximately 7,874 square foot lot. Homes in Long Beach are selling for a median price of $819,000 and a median price per square foot of $628. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 146.89% higher than the current median priced home. 1030 Magnolia Ave was last sold on August 16, 2017 for $2,022,000. Local nearby listings include 528 Cedar Ave #1J, 528 Cedar Ave #2N and 835 Locust Ave #323. The average home in Long Beach, CA is selling in 62 days. There are currently 778 homes for sale in the Long Beach real estate market and 416 of them are single family homes while 337 of them are condos and 23 are townhomes. If you are the homeowner and looking to sell the home at 1030 Magnolia Ave Long Beach, CA 90813 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1030 Magnolia Ave

Public county record property details

Beds: 10
Baths: 10
Year built: 1923
Sq. Ft.: 5,064
Lot Size: 7,874
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 4
APN: 7272-007-022

The source for these homes facts are from public records.

90813 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$560,000

Median List Price/Sq.Ft.

$553

Median Sold Price

$495,000

Median Sold Price/Sq.Ft.

$587

Total Inventory

Median Sale to List Price %

99.02%

Avg Days on Market

Loan Type

Conventional (100%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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