$610,000
$619,000
1.5%For more information regarding the value of a property, please contact us for a free consultation.
4,791 Sqft Lot
SOLD DATE : 12/20/2019
Key Details
Sold Price $610,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Willmore District (Wm)
MLS Listing ID SB19167246
Sold Date 12/20/19
HOA Y/N No
Year Built 1908
Lot Size 4,791 Sqft
Acres 0.11
Property Description
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.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBPD10
Rooms
Ensuite Laundry Laundry Room
Interior
Laundry Location Laundry Room
Fireplace No
Appliance Washer
Laundry Laundry Room
Exterior
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 5
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7272015003
Acceptable Financing Conventional
Listing Terms Conventional
Financing Conventional
Special Listing Condition Standard
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Bought with Whitney Spatz • Buckingham Investments, Inc
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "