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1600 Magnolia Ave, Long Beach, CA 90813
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1600 Magnolia Ave Long Beach, CA 90813

$1,450,000
  • 8 Beds
  • 5 Baths
  • 3,366 Sq.Ft.
For Sale
$1,450,000 Get Pre-Qualified
Map preview of 1600 Magnolia Ave, Long Beach, CA 90813

Property Overview: 1600 Magnolia Ave Long Beach, CA has 8 bedrooms, 5 bathrooms, 3,366 living square feet and 3,651 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Excellent opportunity to acquire a stable 4-unit building in the Alamitos Beach area of Long Beach. This building is only 16-17 blocks to Shoreline Village, Long Beach Convention Center, Aquarium of the Pacific, and everything else fantastic about the Pike area of the Long Beach Shoreline. The immediate few block radius has been going through a renaissance with new construction evident all around. Fancy up this building to have a strong long term hold asset to take full advantage of Long Beach's strong future. This property was formally converted from a 5-unit building to a 4-unit building. Enjoy 30 year fixed residential financing! There is a laundry room that was not used by the current owners which can provide additional income and increase the cap rate. Each unit has a 1-car garage. Downstairs unit is 3 beds and 3 baths. Upstairs there are two 1-bed and 1 bath units and one 3-bed 1 bath unit.

Listed by Melissa Barlow | BRE #01498928 | Elite Representation Real Estate
Last checked: 4 minutes ago | Last updated: September 15th, 2024 | Source CRMLS | DOM: 5

Home details

Lot Sq. Ft
3,651
HOA Dues
$0/mo
Year built
1955
Garage
4 Car
Property Type:
Multi Family
Status
Active
MLS#
24439935
City
Long Beach
County
Los Angeles
Time on Site
3 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,541
  • Total Rent: $2,541
  • Pro Forma/Market Rent: $3,263
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,006
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,789
  • Total Rent: $1,789
  • Pro Forma/Market Rent: $2,006
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,150
  • Total Rent: $2,150
  • Pro Forma/Market Rent: $3,263
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.75%
  • Gross Rent Multiplier: 13.91
  • Gross Scheduled Income: --
  • Net Operating Income: $68,843
  • Gross Operating Income: $106,581
  • Laundry Income: $2,400
Annual Expense Breakdown
  • Total Operating Expense: --
  • New Taxes: $18,415
  • Gardener: $1,200
  • Insurance: $1,824
  • Maintenance: $6,000
  • Professional Management: $5,400
  • Water/Sewer: $2,700

Open Houses for 1600 Magnolia Ave

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Property Details for 1600 Magnolia Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • See Remarks
Fireplace Information
  • No Fireplace
  • None
Kitchen Information
  • Has Appliances
  • Disposal
Interior Features
  • Levels: Two
Exterior Features
Exterior Information
  • Roof: Shingle
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 4
  • # of Parking Spaces: 4
Property Information
  • No View
  • View: None
  • Total # of Units: 4
  • Parcel Number: 7269038006
  • Foundation Details: Raised
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Sewer Paid
  • Water Source: Public
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Magnolia Avenue and Pacific Coast Highway
View more facts & features

Local Long Beach Agent

Sale History for 1600 Magnolia Ave

Last sold for $350,000 on March 28th, 2011

  • September, 2024

  • Sep 14, 2024

    Date

    Active

    CRMLS: 24439935

    $1,450,000

    Price

  • March, 2011

  • Mar 28, 2011

    Date

    Sold (Public Records)

    Public Records

    $350,000

    Price

  • November, 2001

  • Nov 1, 2001

    Date

    Sold (Public Records)

    Public Records

    $325,000

    Price

Show More

Tax History for 1600 Magnolia Ave

Assessed Value (2020): $410,008
Year Land Value Improved Value Assessed Value
2020 $234,291 $175,717 $410,008

Home Value Compared to the Market

This property vs the competition

1600 Magnolia Ave is listed 85.9% higher than the median list price for the city of Long Beach which has a median list price of $780,000. The median price per/sqft for Long Beach is $646 and this home is listed at $430.78 per/sqft which puts the price per square foot 33.32% lower than the median price per square foot for the city of Long Beach.

About 1600 Magnolia Ave

Detailed summary of property

1600 Magnolia Ave is a multi family located in Long Beach, CA 90813 and is currently for sale. This multi family property offers 8 bedrooms, 5 bathrooms, roughly 3,366 living square feet, and sits on an approximately 3,651 square foot lot. 1600 Magnolia Ave was first listed on ArdentRealEstateGroup.com on September 15, 2024. The homeowner is currently asking $1,450,000. The median priced home in Long Beach is $780,000 with a median price per square foot of $646. Based on Ardent Real Estate Group's Long Beach Market Data, this home is listed 85.9% higher than the median priced home. Local competing homes currently for sale include 2264 Magnolia Ave, 2165 Earl Ave and 219 E 10th St. While the average home in Long Beach, CA is selling in 62 days, 1600 Magnolia Ave has a days on market of 5 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 1600 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 1600 Magnolia Ave

Public county record property details
Beds
6
Baths
5
Year built
1955
Sq. Ft.
3,366
Lot Size
3,650
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
11,12
APN
7269-038-006

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%)

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(714) 706-1823

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Recently Sold Homes Near 1600 Magnolia Ave

1542 Magnolia Ave, Long Beach, CA 90813
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5 Baths
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1518 Magnolia Ave, Long Beach, CA 90813
$1,325,000 Last Sold Price
8 Beds
5 Baths
3068 Sq.Ft.
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1524 Henderson Ave, Long Beach, CA 90813
$1,200,000 Last Sold Price
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-- Sq.Ft.
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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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