Address
429 Magnolia Avenue Long Beach, CA
Price
$ 1,350,000
Property Attributes
  • ML#PW19271304
  • TypePending
  • CountyLOS ANGELES
  • CityLong Beach
  • AreaDowntown Area - Alamitos Beach
  • NeighborhoodDowntown
  • Zip90802
  • Style
  • Price$ 1,350,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage4032
  • Lot Size8,712 SqFt
Listing Provided Courtesy Of:
Kevin King with Marcus & Millichap.
Property Description

We are pleased to present a 5 unit apartment building located in Long Beach, California. Built in 1913, the subject property consists of 4,032 rentable square feet spread throughout a 8,709 square foot lot. The building consists of 4 units with 1-Bedroom / 1-Bathroom and 1 unit with 4-Bedrooms / 2.5-Bathrooms. This building is located two blocks away from the Long Beach Courthouse and walking distance to Downtown Long Beach. Tenants have convenient access to freeways as well as many shops and restaurants. Owners enjoy the high demand for rentals in a coastal city of Southern California. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The $495 million Long Beach Courthouse was recently completed and opened in September 2018. Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This is an excellent opportunity to acquire a quality asset in a great location with true rental upside and stable return.

Price History
11/25/2019 Listed $1,490,000
1/13/2020 5% - $1,425,000
4/3/2020 3% - $1,395,000
6/2/2020 4% - $1,350,000

General Features

Attached Structure Attached
Co-Listing Agent Last Name Ryan
Co-Listing Agent Last Name Gonzalez
Co-Listing Agent State License # 01874815
Co-listing Agent Ryan Gonzalez - BRE#01874815
Community Features Curbs, Sidewalks
Directions 4th Street & Magnolia
Garage Spaces 0.00
Listagentaor Pacific West
Listing Agent Kevin King - BRE#01158184
Listing Agent State License 01158184
MLS Area 4 - Downtown Area, Alamitos Beach
Pool Features None
Price Per Square Foot 334.82
Property Attached Y/N Yes
Sewer Public Sewer, Septic Type Unknown
Source System CRMLS
Special Listing Conditions Standard
Subdivision Name Downtown (DT)
Subdivision Name Downtown (DT)
Total Units 5
Zoning LBPD30

Interior Features

1st Bedroom Area Unit Type Square Feet
2nd Bedroom Area Unit Type Square Feet
3rd Bedroom Area Unit Type Square Feet
Common Walls 1 Common Wall
Laundry Features None
Studio Area Unit Type Square Feet

Exterior Features

Building Area Total 4032.00
Lot Features 2-5 Units/Acre
Lot Size Acres 0.2000
Lot Size Area 8710.0000
Lot Size Source Assessor
Lot Size Square Feet 8710.00
Lot Size Units Square Feet
Number of Buildings 3
Number of Separate Electric Meters 5
Number of Separate Gas Meters 5
Number of Separate Water Meters 1
Total Parking 0.00
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 90802

Price
AVG $550K
$1.35M
Visits
AVG 121
139
Year Built
AVG 1964
1913
Walkscore
AVG 87
89
Data Provided by Walkscore ® not using MLS data