1916 Magnolia Avenue

Long Beach, CA 90806

$935,000
Last Sold Price
9
Beds
7
Baths
3,342 Sq. Ft.
$280 / Sq. Ft.
3,342
Sq. Ft.
$280
per Sq. Ft.

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...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.
  1. Listed by CLARISSA KAYSER • DRE #01006048 • Brokerage DRE #00777366 • LYONS & ASSOCIATES

Property Details for 1916 Magnolia Avenue

Architectural Style
Traditional
View
None
Parking Spaces Total
5
Private Pool
No
Cooling Type
None
Total Units
4.0
Building Type
Attached
Lot Size Source
Assessor

Location

Listing Courtesy of LYONS & ASSOCIATES, CLARISSA KAYSER, DRE #01006048

Sold By NONMEMBER MRML, ARMANDO MENDOZA, DRE #01280264

Add your commute
LISTING UPDATED: 01/04/2022 01:56 AM

Property Details for 1916 Magnolia Avenue

StatusClosed
MLS #CV20185698
Days on Market51
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1916
Lot Size0.10 AC / 4,308 SF
CountyLos Angeles County

Location

Listing Courtesy of LYONS & ASSOCIATES, CLARISSA KAYSER, DRE #01006048

Sold By NONMEMBER MRML, ARMANDO MENDOZA, DRE #01280264

Add your commute

Building Information for 1916 Magnolia Avenue

Stories2Residences-Year Built1916Building Size-Lot Size0.10 AC / 4,308 SF

Payment Calculator

$6,701 per month

30 year fixed, 7.25% Interest

Principal and Interest

$5,103

Property Taxes

$1,598

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1916 Magnolia Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $0
  • Gross Scheduled Income: $90,000
  • Net Operating Income: $65,000
  • Number Of Rented Garages: 0
  • Garage Rental Rate: $0
  • Garage Income: $0
  • Laundry Income: $2,000
  • Financing: Cash To Existing Loan
Expense Details
  • Operating Expense: $25,000
  • New Taxes Expense: $0
  • Cable TV Expense: $0
  • Fuel Expense: $0
  • Electric Expense: $1,100
  • Insurance Expense: $700
  • Other Expense: $0
  • Other Expense Description: 0
  • Trash Expense: $300
  • Water Sewer Expense: $300
  • Total Expenses: $2,050
Tax / Assessment Info
  • Tax Annual Amount: $7,779
  • Tax Tract Number: 8988
  • Tax Census Tract: 5730.04
  • Tax Lot: 23
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Biking, Sidewalks, Street Lights, Suburban
Property / Structure Info
Interior Features
  • Appliances: Gas Oven, Gas Range, Gas Cooktop
  • Interior Features: Balcony, Ceiling Fan(s)
  • Laundry: Yes
  • Laundry Features: Common Area
  • Laundry Equipment Own Lease: Own
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: None
  • Heating: Wall Furnace
  • Flooring: Laminate, Tile
Exterior Features
  • Fence: Yes
  • Fencing: Average Condition
  • Property Condition: Additions/Alterations, Fixer
  • View Description: None
  • Pool Features: None
  • Pool Description: None
  • Spa Features: None
Land/Lot Info
  • Lot Features: Level with Street
  • Direction Faces: West
  • Number Of Units: 4
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Alley Paved
  • Road Frontage Type: City Street
  • Levels: Two
  • Sewer: Public Sewer
  • Utilities: Cable Available, Electricity Available
  • Water Source: Public
Parking Info
  • Garage Spaces: 5
  • Parking: Yes
  • Uncovered Spaces: 0
  • Open Other Spaces Total: 0
  • Parking Garage Spaces: 5
  • Carport Spaces: 0
  • Parking Features: Garage Faces Rear
Property / Structure Info
  • Builders Tract Name: Wrigley Area
  • Builders Tract Code: Wrigley Area (WR)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 4
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,895
  • Unit Type Total Rent: $2,895
  • Unit Type Pro Forma: 2895
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,450
  • Unit Type Total Rent: $2,450
  • Unit Type Pro Forma: 2450
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,775
  • Unit Type Total Rent: $1,775
  • Unit Type Pro Forma: 1775
  • Unit Type Type: 3
Unit Information
  • Number Of Units Leased: 4
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1

Property History for 1916 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 1916 Magnolia Avenue

Taxable ValueLand$850,000Additions$615,250Total$1,465,250
Tax Record2023$19,175 ($1,598 / month)
Home Facts
Total Finished SqFt3,342 SqFtAbove Grade Finished SqFt3,342 SqFtLot Size4,150 SqFtStyleQuadraplexYear Built1916ZoningLBR2NCountyLOS ANGELESAPN7209-032-016

Schools near 1916 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
Lafayette 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.

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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 LYONS & ASSOCIATES, CLARISSA KAYSER, DRE #01006048

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.