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2140 Magnolia Ave, Long Beach, CA 90806
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2140 Magnolia Ave Long Beach, CA 90806

$2,300,000 Sold Price as of 09/08/2023
  • 12 Beds
  • 12 Baths
  • 8,404 Sq.Ft.
Sold
$2,300,000 Sold Price as of 09/08/2023 Refinance Your Mortgage
Map preview of 2140 Magnolia Ave, Long Beach, CA 90806

Property Overview: 2140 Magnolia Ave Long Beach, CA has 12 bedrooms, 12 bathrooms, 8,404 living square feet and 12,669 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 2140 Magnolia Avenue is a 12-unit apartment property in Long Beach, California. This offering presents a great value-add opportunity with 46 percent potential upside in rents. 2140 Magnolia Avenue consists of two six-unit buildings with all one-bedroom/one-bath units that are separately metered for gas and electricity. The property also features a shared laundry room with owned machines and a rear structure with eight single-car garages. This asset boasts several major recent improvements, including a new roof on one of the buildings, some copper plumbing, and updated electrical. The property is located in the South Wrigley neighborhood, a dense rental area with convenient proximity to the 710 Freeway, and just a few blocks west of Pacific Avenue, where a Northgate Supermarket is a short walk away.

Listed by Steven Bogoyevac | BRE #01332755 | Steven M. Bogoyevac, Broker
Last checked: 7 minutes ago | Last updated: September 8th, 2023 | Source CRMLS | DOM: 7

Home details

Lot Sq. Ft
12,669
HOA Dues
$0/mo
Year built
1940
Garage
8 Car
Property Type:
Mixed Use
Status
Sold
MLS#
PW23118541
City
Long Beach
County
Los Angeles
Time on Site
317 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 12
  • Total # of Buildings: 2
  • # of Electric Meters: 12
  • # of Gas Meters: 12
  • # of Water Meters: 0
Unit Breakdown 1
  • # of Units: 12
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,115
  • Total Rent: $13,375
  • Pro Forma/Market Rent: $1,625
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $160,500
  • Net Operating Income: $92,967
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $65,050
  • Electric: $0
  • Gas/Fuel: $0
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0

Property Details for 2140 Magnolia Ave

Interior Features
Laundry Information
  • Has Laundry
  • Community
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 8
  • # of Parking Spaces: 8
Lot Information
  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 12
  • Parcel Number: 7205025026
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Wrigley Area (WR)
  • Directions: between 21st and hill
Neighborhood Information
  • Community Features: Suburban
View more facts & features

Local Long Beach Agent

Sale History for 2140 Magnolia Ave

Last sold for $2,300,000 on September 8th, 2023

  • September, 2023

  • Sep 8, 2023

    Date

    Sold

    CRMLS: PW23118541

    $2,300,000

    Price

  • Jul 3, 2023

    Date

    Active

    CRMLS: PW23118541

    $2,300,000

    Price

  • March, 2000

  • Mar 14, 2000

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 2140 Magnolia Ave

Assessed Value (2020): $598,652
Year Land Value Improved Value Assessed Value
2020 $268,407 $330,245 $598,652

Home Value Compared to the Market

This property vs the competition

2140 Magnolia Ave sold on September 8, 2023 for 187.5% higher than the current median sold price for the city of Long Beach which is $800,000. The median sold price per/sqft for Long Beach is $632 and this home is sold at $273.68 per/sqft which puts the price per square foot 56.7% lower than the current median sale per square foot for the city of Long Beach.

About 2140 Magnolia Ave

Detailed summary of property

2140 Magnolia Ave is a mixed use that recently sold in Long Beach, CA 90806. This mixed use property offered 12 bedrooms, 12 bathrooms, roughly 8,404 living square feet, and sits on an approximately 12,669 square foot lot. 2140 Magnolia Ave was first listed on ArdentRealEstateGroup.com on July 3, 2023. The homeowner sold the property for $2,300,000. Home in Long Beach are selling for a median price of $800,000 and a median price per square foot of $632. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 187.5% higher than the current median priced home. Local homes that are currently for sale include 4130 E 10th St, 1348 W 41st Pl and 4652 Gratian St. While the average home in Long Beach, CA is selling in 51 days, 2140 Magnolia Ave has a days on market of 7 days. There are currently 643 homes for sale in the Long Beach real estate market and 358 of them are single family homes while 270 of them are condos and 15 are townhomes. For more information on this home for sale at 2140 Magnolia Ave Long Beach, CA 90806 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 2140 Magnolia Ave

Public county record property details
Beds
12
Baths
12
Year built
1940
Sq. Ft.
8,404
Lot Size
12,668
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
7,8
APN
7205-025-026

The source for these homes facts are from public records.

90806 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$795,000
Median List Price/Sq.Ft.
$614
Median Sold Price
$600,000
Median Sold Price/Sq.Ft.
$641
Total Inventory
13
Median Sale to List Price %
101.69%
Avg Days on Market
16
Loan Type
Conventional (55.56%), FHA (11.11%), VA (0%), Cash (0%), Other (33.33%)

Thinking of Selling?

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Thinking of Selling?
Call, Text or Message
(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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