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Long Beach, CA 90806,1916 Magnolia AVE
Long Beach, CA 90806,1916 Magnolia AVE
Long Beach, CA 90806,1916 Magnolia AVE
$935,000
Est. payment /mo
$1,175,000
20.4%
Est.Price: ?

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4,356 Sqft Lot
SOLD DATE : 05/21/2021

Key Details

Sold Price $935,000

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

Subdivision Wrigley Area (Wr)

MLS Listing ID CV20185698

Year Built 1916

Annual Tax Amount $7,779

Lot Size 4,356 Sqft

Property Description

CALLING ALL INVESTORS! INVESTMENT NEEDING SOME TLC. Opportunity to own a 4-Plex that has operated as a sober living facility for 9 years, income has historically been approximately $9,000 to $10,000 a month. Buyers to perform their own financial analysis due to the potential for conversion back to 4-plex or based on the income of sober living facility. Traditional style quadruplex. Kitchens have formica counters, flooring is laminate and tile throughout, baths have tile flooring. There are 4 units (2 beds, 1 bath; 3 beds, 2 baths; 4 beds, 2 baths; 3 beds, 2 baths) that have been converted to fit a sober living facility. This is a great opportunity for passive income either as a continued sober living facility or conversion back to 4-Plex. There are 5 one-car garages in back. Water heaters and electrical outlets are almost new. Built in 1916, the gross building area is appx. 3342 square feet on a 4149 square foot lot. With $6B in development flowing into the City of Long Beach, this is a top beach community and a perfect opportunity for any buyer looking to own a cash flowing asset with upside. Bring Offers! PLEASE FOLLOW ALL COVID-19 GUIDELINES FOR SHOWING.

Location

State CA

County Los Angeles

Area 5 - Wrigley Area

Zoning LBR2N

Interior

Heating Wall Furnace

Cooling None

Flooring Laminate, Tile

Fireplaces Type None

Laundry Common Area

Exterior

Parking Features Garage Faces Rear

Garage Spaces 5.0

Garage Description 5.0

Fence Average Condition

Pool None

Community Features Biking, Street Lights, Suburban, Sidewalks

Utilities Available Cable Available, Electricity Available

View Y/N No

View None

Building

Lot Description Street Level

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Probate Listing

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California Regional MLS (CRMLS)
Listed by CLARISSA KAYSER • LYONS & ASSOCIATES
Bought with ARMANDO MENDOZA • CLASS A REALTY
agent
Devone Richard

Broker | License ID: 1002115

+1(626) 500-1212 | devone@nextadvisors.properties

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