1486 Magnolia Avenue

Long Beach, CA 90813

$1,000,000
Last Sold Price
4
Beds
6
Baths
3,027 Sq. Ft.
$330 / Sq. Ft.
3,027
Sq. Ft.
$330
per Sq. Ft.

Description

With east freeway access and less than 2 miles to the golden sand of the BEACH and the fun and shops of Rainbow Harbor, these 6 units plus 3 rare garages will keep these units in high demand in perpetuity! Last time these were available, Carter was president! So now is your chance to own the kind of investment the legacy investors rarely divest! Get off the stock market roller coaster and enjoy a yield every single month from your nest egg!With east freeway access and less than 2 miles to the golden sand of the BEACH and the fun and shops of Rainbow Harbor, these 6 units plus 3 rare garages will keep these units in high demand in perpetuity! Last time these were available, Carter was president! So now is your chance to own the kind of investment the legacy investors rarely divest! Get off the stock market roller coaster and enjoy a yield every single month from your nest egg!
  1. Listed by Martie Etheridge • DRE #00645855 • Brokerage DRE #01353781 • RE/MAX Select One
  2. Listed by Maggie Ureno • DRE #01319367 • Brokerage DRE #01353781 • RE/MAX Select One

Property Details for 1486 Magnolia Avenue

Parking Spaces Total
4
Private Pool
No
Total Units
6.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
3027
Assessor Parcel Number
7269-040-001
Property Attached YN
false

Location

Listing Courtesy of RE/MAX Select One, Martie Etheridge, DRE #00645855; RE/MAX Select One, Maggie Ureno, DRE #01319367

Sold By RE/MAX Select One, Martie Etheridge, DRE #00645855; RE/MAX Select One, Maggie Ureno, DRE #01319367

Add your commute
LISTING UPDATED: 11/04/2023 12:24 AM

Property Details for 1486 Magnolia Avenue

StatusClosed
MLS #OC22205957
Days on Market388
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1940
Lot Size0.09 AC / 3,993 SF
CountyLos Angeles County

Location

Listing Courtesy of RE/MAX Select One, Martie Etheridge, DRE #00645855; RE/MAX Select One, Maggie Ureno, DRE #01319367

Sold By RE/MAX Select One, Martie Etheridge, DRE #00645855; RE/MAX Select One, Maggie Ureno, DRE #01319367

Add your commute

Building Information for 1486 Magnolia Avenue

Stories2Residences-Year Built1940Building Size-Lot Size0.09 AC / 3,993 SF

Payment Calculator

$5,714 per month

30 year fixed, 7.25% Interest

Principal and Interest

$5,457

Property Taxes

$257

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1486 Magnolia Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $55,176
  • Gross Scheduled Income: $55,176
  • Net Operating Income: $36,374
  • Financing: Cash
Expense Details
  • Operating Expense: $18,802
  • New Taxes Expense: $2,827
  • Gardener Expense: $0
  • Pest Control Expense: $0
  • Electric Expense: $1,790
  • Insurance Expense: $2,684
  • Professional Management Expense: $2,700
  • Trash Expense: $2,100
  • Water Sewer Expense: $2,222
  • Total Expenses: $18,802
Tax / Assessment Info
  • Tax Block: A
  • Tax Tract Number: 7518
  • Tax Census Tract: 5754.01
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 1
Community / Development
Community / Development
  • Community Features: Urban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area, Community, Dryer Included, Individual Room, Washer Hookup, Washer Included
Exterior Features
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Corner Lot, Rectangular Lot, No Landscaping, Walkstreet
  • Number Of Units: 6
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Parking: Yes
  • Parking Garage: Garage
  • Parking Garage Spaces: 4
  • Carport Spaces: 0
  • Parking Features: Garage
Property / Structure Info
  • Builders Tract Name: Other
  • Builders Tract Code: Other (OTHR)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $980
  • Unit Type Total Rent: $980
  • Unit Type Pro Forma: 1200
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $715
  • Unit Type Total Rent: $715
  • Unit Type Pro Forma: 1200
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $650
  • Unit Type Total Rent: $650
  • Unit Type Pro Forma: 1200
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $605
  • Unit Type Total Rent: $605
  • Unit Type Pro Forma: 1200
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $815
  • Unit Type Total Rent: $815
  • Unit Type Pro Forma: 950
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 950
  • Unit Type Type: 6
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 7

Property History for 1486 Magnolia Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1486 Magnolia Avenue

Taxable ValueLand$50,911Additions$113,398Total$164,309
Tax Record2023$3,085 ($257 / month)
Home Facts
Total Finished SqFt3,027 SqFtAbove Grade Finished SqFt3,027 SqFtLot Size3,993 SqFtStyleMulti-Family Res (5+ Units)Year Built1940ZoningLBR4NCountyLOS ANGELESAPN7269-040-001

Schools near 1486 Magnolia Avenue

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Edison Elementary School
PublicK to 5

Washington Middle School
Public6 to 8

Cabrillo High School
Public9 to 12

Educational Partnership High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RE/MAX Select One, Martie Etheridge, DRE #00645855; RE/MAX Select One, Maggie Ureno, DRE #01319367

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.