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1518 Magnolia Ave, Long Beach, CA 90813
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1518 Magnolia Ave Long Beach, CA 90813

$1,325,000 Sold Price as of 10/24/2022
  • 8 Beds
  • 5 Baths
  • 3,068 Sq.Ft.
Sold
$1,325,000 Sold Price as of 10/24/2022 Refinance Your Mortgage
Map preview of 1518 Magnolia Ave, Long Beach, CA 90813

Property Overview: 1518 Magnolia Ave Long Beach, CA has 8 bedrooms, 5 bathrooms, 3,068 living square feet and 3,651 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Great Cash-Flow Deal located just outside of Downtown Long Beach, in the Washington submarket. The property currently collects $8,548/month in gross income and is operating at a 5.03% CAP and 13.15 GRM. 1518 Magnolia Ave has a unit mix of (3) 2Bed+1Bath and (2) 1Bed+1Bath units. There are also 3 garages spots and laundry on-site. 1518 Magnolia Ave is the ideal opportunity for any investor looking for day 1 cash-flow with rental upside. The subject property is located just outside the $6 Billion of development flooding Downtown Long Beach, including the Long Beach Civic Center, Long Beach Aquarium, OceanAire Project, CSULB Downtown Village, Broadway Block, the Pacific and Queen Mary Island.

Listed by Cameron Samimi | BRE #02035763 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 9 minutes ago | Last updated: October 25th, 2022 | Source CRMLS | DOM: 41

Home details

Lot Sq. Ft
3,651
HOA Dues
$0/mo
Year built
1963
Garage
3 Car
Property Type:
Multi Family
Status
Sold
MLS#
SB22185739
City
Long Beach
County
Los Angeles
Time on Site
748 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 1
  • # of Electric Meters: 5
  • # of Gas Meters: 5
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Actual Rent: $1,742
  • Total Rent: $1,742
  • Pro Forma/Market Rent: $2,200
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $1,604
  • Total Rent: $1,604
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Actual Rent: $1,583
  • Total Rent: $1,583
  • Pro Forma/Market Rent: $2,200
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Actual Rent: $1,612
  • Total Rent: $1,612
  • Pro Forma/Market Rent: $2,200
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $1,782
  • Total Rent: $1,782
  • Pro Forma/Market Rent: $1,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.03%
  • Gross Rent Multiplier: 13.15
  • Gross Scheduled Income: $102,576
  • Net Operating Income: $67,830
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $31,669
  • Electric: $0
  • Gas/Fuel: $0
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0

Property Details for 1518 Magnolia Ave

Interior Features
Laundry Information
  • Has Laundry
  • Inside
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 3
  • # of Parking Spaces: 3
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 5
  • Parcel Number: 7269038010
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: On Magnolia, Off Anaheim
Neighborhood Information
  • Community Features: Biking, Curbs, Urban
View more facts & features

Local Long Beach Agent

Sale History for 1518 Magnolia Ave

Last sold for $1,325,000 on October 24th, 2022

  • October, 2022

  • Oct 24, 2022

    Date

    Sold

    CRMLS: SB22185739

    $1,325,000

    Price

  • Sep 7, 2022

    Date

    Active

    CRMLS: SB22185739

    $1,385,000

    Price

  • October, 2020

  • Oct 15, 2020

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • October, 2000

  • Oct 26, 2000

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1518 Magnolia Ave

Assessed Value (2020): $205,037
Year Land Value Improved Value Assessed Value
2020 $38,554 $166,483 $205,037

Home Value Compared to the Market

This property vs the competition

1518 Magnolia Ave sold on October 24, 2022 for 64.71% higher than the current median sold price for the city of Long Beach which is $819,000. The median sold price per/sqft for Long Beach is $628 and this home is sold at $439.7 per/sqft which puts the price per square foot 29.98% lower than the current median sale per square foot for the city of Long Beach.

About 1518 Magnolia Ave

Detailed summary of property

1518 Magnolia Ave is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 8 bedrooms, 5 bathrooms, roughly 3,068 living square feet, and sits on an approximately 3,651 square foot lot. 1518 Magnolia Ave was first listed on ArdentRealEstateGroup.com on September 2, 2022. The homeowner sold the property for $1,325,000. Home 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 64.71% higher than the current median priced home. Local homes that are currently for sale include 1132 E Arcadia Court, 436 Gaviota Ave and 1122 Cherry Ave. While the average home in Long Beach, CA is selling in 62 days, 1518 Magnolia Ave has a days on market of 41 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. For more information on this home for sale at 1518 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 1518 Magnolia Ave

Public county record property details
Beds
8
Baths
5
Year built
1963
Sq. Ft.
3,068
Lot Size
3,650
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
19,20
APN
7269-038-010

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
35
Median Sale to List Price %
99.02%
Avg Days on Market
24
Loan Type
Conventional (100%), FHA (0%), VA (0%), Cash (0%), Other (0%)

Thinking of Selling?

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Thinking of Selling?
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(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

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