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848 Magnolia AVE Long Beach, CA 90813
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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
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
Interior
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
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