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928 Magnolia Ave, Long Beach, CA 90813
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928 Magnolia Ave Long Beach, CA 90813

$5,000,000 Sold Price as of 04/08/2020
  • 30 Beds
  • 30 Baths
  • 17,502 Sq.Ft.
Sold
$5,000,000 Sold Price as of 04/08/2020 Refinance Your Mortgage
Map preview of 928 Magnolia Ave, Long Beach, CA 90813

Property Overview: 928 Magnolia Ave Long Beach, CA has 30 bedrooms, 30 bathrooms, 17,502 living square feet and 41,281 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: A great opportunity to own a quarter block on 10th and Magnolia in the up-and-coming Willmore City Historic District. This property is just north of Downtown Long Beach. The quarter block includes four properties featuring 30 units, 24 garages, on-site laundry facility and a community courtyard. Easy access to the 710 and 405 Freeways. Metro Blue Line running between Downtown Long Beach and Downtown LA.

Listed by Penny Johnson | BRE #02079547 | Coldwell Banker Coastal Alliance
Last checked: 7 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 44

Home details

Lot Sq. Ft
41,281
HOA Dues
$0/mo
Year built
1959
Garage
24 Car
Property Type:
Apartment
Status
Sold
MLS#
PW19284138
City
Long Beach
County
Los Angeles
Time on Site
1521 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 30
  • Total # of Buildings: 4
  • # of Electric Meters: 30
  • # of Gas Meters: 30
  • # of Water Meters: 0
Unit Breakdown 1
  • # of Units: 24
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 18
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $27,704
  • Total Rent: $27,704
  • Pro Forma/Market Rent: $35,000
Unit Breakdown 2
  • # of Units: 3
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,095
  • Total Rent: $3,095
  • Pro Forma/Market Rent: $3,300
Unit Breakdown 3
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,940
  • Total Rent: $3,940
  • Pro Forma/Market Rent: $5,250
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $407,463
  • Net Operating Income: $294,497
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $112,966
  • Electric: $92
  • Gas/Fuel: $0
  • New Taxes: $0
  • Trash: $0
  • Gardener: $5,570
  • Insurance: $0
  • Maintenance: $22,407
  • Workman's Comp: $550
  • Professional Management: $0
  • Water/Sewer: $14,263

Virtual Tour

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Property Details for 928 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: 24
  • # of Parking Spaces: 24
Lot Information
  • Lot Features: 26-30 Units/Acre, Corner Lot, Lot Over 40000 Sqft
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 30
  • Parcel Number: 7272010004
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Other (OTHR)
  • Other Subdivision Name: Drake Park/ Willmore Area
  • Directions: 10th and Magnolia
Neighborhood Information
  • Community Features: Curbs
View more facts & features

Local Long Beach Agent

Sale History for 928 Magnolia Ave

Last sold for $5,000,000 on April 8th, 2020

  • April, 2020

  • Apr 8, 2020

    Date

    Sold

    CRMLS: PW19284138

    $5,000,000

    Price

  • Jan 30, 2020

    Date

    Pending

    CRMLS: PW19284138

    $6,399,000

    Price

  • Jan 8, 2020

    Date

    Price Change

    CRMLS: PW19284138

    $6,399,000

    Price

  • Dec 30, 2019

    Date

    Active

    CRMLS: PW19284138

    $7,000,000

    Price

Tax History for 928 Magnolia Ave

Assessed Value (2020): $342,076
Year Land Value Improved Value Assessed Value
2020 $150,849 $191,227 $342,076

Home Value Compared to the Market

This property vs the competition

928 Magnolia Ave sold on April 8, 2020 for 681.32% 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 $365.62 per/sqft which puts the price per square foot 41.78% lower than the current median sale per square foot for the city of Long Beach.

About 928 Magnolia Ave

Detailed summary of property

928 Magnolia Ave is a apartment that recently sold in Long Beach, CA 90813. This apartment offered 30 bedrooms, 30 bathrooms, roughly 17,502 living square feet, and sits on an approximately 41,281 square foot lot. 928 Magnolia Ave was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $5,000,000. 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 681.32% higher than the current median priced home. Local homes that are currently for sale include 7113-7107 La Tijera Blvd, 2666 Orchard Ave and 3168 Wabash Ave. While the average home in Long Beach, CA is selling in 62 days, 928 Magnolia Ave has a days on market of 44 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 928 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 928 Magnolia Ave

Public county record property details
Beds
21
Baths
20
Year built
1959
Sq. Ft.
11,232
Lot Size
31,187
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
1
APN
7272-010-004

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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