1409 Magnolia Ave
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1409 Magnolia Ave
6 Unit Apartment Building $1,650,000 ($275,000/Unit) 6.95% Cap Rate Long Beach, CA 90813
Investment Highlights
- Day 1 cash-flow - Will operate at a 10.38 GRM and 6.95 % CAP Rate
- Located in the booming city of Long Beach
- High yielding unit mix of (3) 3Bed/1Bath, (2) 2Bed/1Bath, (1) 1Bed/1Bath
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$159,012
|
$39.83
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,770
|
$1.19
|
| Effective Gross Income |
$154,242
|
$38.64
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$39,568
|
$9.91
|
| Net Operating Income |
$114,674
|
$28.73
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $159,012 |
| Annual Per SF | $39.83 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $4,770 |
| Annual Per SF | $1.19 |
| Effective Gross Income | |
|---|---|
| Annual | $154,242 |
| Annual Per SF | $38.64 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $39,568 |
| Annual Per SF | $9.91 |
| Net Operating Income | |
|---|---|
| Annual | $114,674 |
| Annual Per SF | $28.73 |
Property Facts
| Price | $1,650,000 | Building Class | C |
| Price Per Unit | $275,000 | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 3,992 SF |
| Cap Rate | 6.95% | No. Stories | 2 |
| Gross Rent Multiplier | 10.38 | Year Built | 1925 |
| No. Units | 6 | Parking Ratio | 2.75/1,000 SF |
| Property Type | Multifamily | Cross Streets | 14th St N |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $1,650,000 |
| Price Per Unit | $275,000 |
| Sale Type | Investment |
| Cap Rate | 6.95% |
| Gross Rent Multiplier | 10.38 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 3,992 SF |
| No. Stories | 2 |
| Year Built | 1925 |
| Parking Ratio | 2.75/1,000 SF |
| Cross Streets | 14th St N |
| Opportunity Zone |
Yes |
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Walk Score ®
Very Walkable (85)
Bike Score ®
Very Bikeable (84)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $891,412 (2024) | |
| Land Assessment | $615,498 (2024) | Total Assessment | $1,506,910 (2024) |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$615,498 (2024)
Improvements Assessment
$891,412 (2024)
Total Assessment
$1,506,910 (2024)
zoning
| Zoning Code | IL, Long Beach |
| IL, Long Beach |
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1409 Magnolia Ave
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