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848 Magnolia Ave, Long Beach, CA 90813
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848 Magnolia Ave Long Beach, CA 90813

$610,000 Sold Price as of 12/20/2019
  • 5 Beds
  • 2 Baths
  • 1,350 Sq.Ft.
Sold
$610,000 Sold Price as of 12/20/2019 Refinance Your Mortgage
Map preview of 848 Magnolia Ave, Long Beach, CA 90813

Property Overview: 848 Magnolia Ave Long Beach, CA has 5 bedrooms, 2 bathrooms, 1,350 living square feet and 4,768 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Offering a 4.44% Cap Rate on current rents, 848-850 Magnolia Ave. is a charming duplex made up of (1) 3-bed/1-bath and (1) 2-bed/1-bath in Downtown Long Beach. The property was completely gutted in 2001 with all new copper plumbing, gas & sewer lines, electrical, electrical panels, heaters, and flooring. There are (5) total parking spaces in the backyard, which has been recently repaved. Each unit has their own washer/dryer and is receiving strong rents. This is the perfect opportunity for any buyer or owner/user looking to own a piece of one of Southern California's last affordable beach communities. The three bedroom unit will be ready for owner occupy.

Listed by Cameron Samimi | BRE #02035763 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 13 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 129

Home details

Lot Sq. Ft
4,768
HOA Dues
$0/mo
Year built
1908
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
SB19167246
City
Long Beach
County
Los Angeles
Time on Site
1521 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 2
  • Total # of Buildings: 1
  • # of Electric Meters: 2
  • # of Gas Meters: 2
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 3
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,050
  • Total Rent: $2,050
  • Pro Forma/Market Rent: $2,300
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,500
  • Total Rent: $1,500
  • Pro Forma/Market Rent: $1,650
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $42,600
  • Net Operating Income: $28,397
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $12,925
  • Electric: $0
  • Gas/Fuel: $0
  • New Taxes: $0
  • Trash: $0
  • Insurance: $0
  • Water/Sewer: $0

Property Details for 848 Magnolia Ave

Interior Features
Laundry Information
  • Has Laundry
  • Individual Room, Washer Included
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 5
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 2
  • Parcel Number: 7272015003
  • Year Built Source: Assessor
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Willmore District (WM)
  • Directions: Off of 9th St. and Magnolia
Neighborhood Information
  • Community Features: Curbs, Gutters, Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 848 Magnolia Ave

Last sold for $610,000 on December 20th, 2019

  • December, 2019

  • Dec 23, 2019

    Date

    Sold

    CRMLS: SB19167246

    $610,000

    Price

  • Nov 21, 2019

    Date

    Active Under Contract

    CRMLS: SB19167246

    $619,000

    Price

  • Nov 15, 2019

    Date

    Active

    CRMLS: SB19167246

    $619,000

    Price

  • Oct 14, 2019

    Date

    Active Under Contract

    CRMLS: SB19167246

    $619,000

    Price

  • Oct 1, 2019

    Date

    Price Change

    CRMLS: SB19167246

    $619,000

    Price

  • Sep 5, 2019

    Date

    Price Change

    CRMLS: SB19167246

    $639,000

    Price

  • Aug 12, 2019

    Date

    Price Change

    CRMLS: SB19167246

    $659,000

    Price

  • Jul 15, 2019

    Date

    Active

    CRMLS: SB19167246

    $669,000

    Price

  • December, 2019

  • Dec 20, 2019

    Date

    Sold (Public Records)

    Public Records

    $610,000

    Price

  • May, 2018

  • May 10, 2018

    Date

    Sold

    CRMLS: PW18046160

    $525,000

    Price

  • Mar 16, 2018

    Date

    Pending

    CRMLS: PW18046160

    $490,000

    Price

  • Feb 28, 2018

    Date

    Active

    CRMLS: PW18046160

    $490,000

    Price

  • Listing provided courtesy of CRMLS

    Duplex: 848 & 850 Magnolia Ave. Very Unique Property: Excellent Opportunity for first time buyer or Investor to own a duplex: Live in one & rent the other unit, this is the perfect property to expand, add-on & build a garage in the rear : 848 Magnolia Ave Offer a small combine kitchen Dining area along with one full bathroom & three bedrooms, one bedroom currently used as a Den, next Door 850 Magnolia Ave. Offer a small combine Kitchen Dining area, one full bath and two bedrooms, in the rear we have a separate laundry room for both units and a large patio area with a large rolling gate with alley access. Zoning LBPD10, Historic, architectural & cultural zone protected by the city of Long Beach.

  • May, 2018

  • May 9, 2018

    Date

    Sold (Public Records)

    Public Records

    $525,000

    Price

Show More

Tax History for 848 Magnolia Ave

Assessed Value (2020): $610,000
Year Land Value Improved Value Assessed Value
2020 $400,000 $210,000 $610,000

Home Value Compared to the Market

This property vs the competition

848 Magnolia Ave sold on December 20, 2019 for 24.42% lower 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 $458.52 per/sqft which puts the price per square foot 26.99% lower than the current median sale per square foot for the city of Long Beach.

About 848 Magnolia Ave

Detailed summary of property

848 Magnolia Ave is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 5 bedrooms, 2 bathrooms, roughly 1,350 living square feet, and sits on an approximately 4,768 square foot lot. 848 Magnolia Ave was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $610,000. 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 24.42% lower than the current median priced home. Local homes that are currently for sale include 516 W 109th St, 642 W 109th Pl and 10409 S Figueroa St. While the average home in Long Beach, CA is selling in 62 days, 848 Magnolia Ave has a days on market of 129 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 848 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 848 Magnolia Ave

Public county record property details
Beds
2
Baths
2
Year built
1908
Sq. Ft.
1,290
Lot Size
4,767
Stories
--
Type
Duplex (2 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
1,2
APN
7272-015-003

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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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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