1409 Magnolia Ave
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1409 Magnolia Ave
6 Unit Block of Flats £1,301,850 (£216,975/Unit) 7.31% Net Initial Yield Long Beach, CA 90813
Investment Highlights
- Day 1 cash-flow - Will operate at a 10.00 GRM and 7.31% CAP Rate
- Located in the booming city of Long Beach
- High yielding unit mix of (3) 3Bed/1Bath, (2) 2Bed/1Bath, (1) 1Bed/1Bath
- Tons of parking available for all tenants
Executive Summary
Great Cash-Flow Deal! Located just outside of
booming Downtown Long Beach, 1409 Magnolia Ave
is a well-maintained 6 unit building with a high
yielding unit mix of (3) 3Bed/1Bath, (2) 2Bed/1Bath,
and (1) 1Bed/1Bath units. The property currently
grosses $13,756/month and operates at a 7.30%
CAP and 10.00 GRM. 1409 Magnolia Ave is the ideal
investment for investor looking for day 1 cash-flow
with significant upside in rental income.
The subject property is located just outside the $6
Billion of development flooding into Downtown LB,
including the Long Beach Civic Center, Long Beach
Aquarium, OceanAire Project, CSULB Project, CSULB
Downtown Village, Broadway Block, the Pacific and
Queen Mary Island.
booming Downtown Long Beach, 1409 Magnolia Ave
is a well-maintained 6 unit building with a high
yielding unit mix of (3) 3Bed/1Bath, (2) 2Bed/1Bath,
and (1) 1Bed/1Bath units. The property currently
grosses $13,756/month and operates at a 7.30%
CAP and 10.00 GRM. 1409 Magnolia Ave is the ideal
investment for investor looking for day 1 cash-flow
with significant upside in rental income.
The subject property is located just outside the $6
Billion of development flooding into Downtown LB,
including the Long Beach Civic Center, Long Beach
Aquarium, OceanAire Project, CSULB Project, CSULB
Downtown Village, Broadway Block, the Pacific and
Queen Mary Island.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£130,242
|
£32.63
|
| Other Income |
-
|
-
|
| Vacancy Loss |
£3,907
|
£0.98
|
| Effective Gross Income |
£126,335
|
£31.65
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
£31,219
|
£7.82
|
| Net Operating Income |
£95,116
|
£23.83
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £130,242 |
| Annual Per SF | £32.63 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | £3,907 |
| Annual Per SF | £0.98 |
| Effective Gross Income | |
|---|---|
| Annual | £126,335 |
| Annual Per SF | £31.65 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | £31,219 |
| Annual Per SF | £7.82 |
| Net Operating Income | |
|---|---|
| Annual | £95,116 |
| Annual Per SF | £23.83 |
Property Facts
| Price | £1,301,850 | Building Class | C |
| Price Per Unit | £216,975 | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 3,992 SF |
| Net Initial Yield | 7.31% | Number of Floors | 2 |
| Gross Rent Multiplier | 10 | Year Built | 1925 |
| No. Units | 6 | Parking Ratio | 2.75/1,000 SF |
| Property Type | Residential | Cross Streets | 14th St N |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | £1,301,850 |
| Price Per Unit | £216,975 |
| Sale Type | Investment |
| Net Initial Yield | 7.31% |
| Gross Rent Multiplier | 10 |
| No. Units | 6 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 3,992 SF |
| Number of Floors | 2 |
| Year Built | 1925 |
| Parking Ratio | 2.75/1,000 SF |
| Cross Streets | 14th St N |
| Opportunity Zone |
Yes |
1 of 1
Walk Score ®
Very Walkable (85)
Bike Score ®
Very Bikeable (84)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £703,324 (2024) | |
| Land Assessment | £485,628 (2024) | Total Assessment | £1,188,952 (2024) |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£485,628 (2024)
Improvements Assessment
£703,324 (2024)
Total Assessment
£1,188,952 (2024)
zoning
| Zoning Code | IL, Long Beach |
| IL, Long Beach |
-
Cameron Samimi -
Lyon Stahl Investment Real Estate
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1409 Magnolia Ave
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