$1,175,000

1916 Magnolia Avenue

Long Beach CA, 90806

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.

Details

MLS#CV20185698
Listing TypeFor Sale
Sub-TypeResale
StatusPending
Year1916
Days On Site146

Features

SQ Feet3,342
Units4
Building(s)1
Water FrontNo
Property ViewNo
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Area Information
StateCA
CountyLos Angeles
CityLong Beach
Zip Code90806
Area5 - Wrigley Area
Listing VS Median (in 90806)
Price:
$1,175,000
low | high
Med:
$679,000
92.212765957447% of Average
SqFt:
3,342
low | high
Med:
1,334
100% of Average
$ / SqFt:
$352
low | high
Med:
$509
5.228683530575% of Average
On Site:
146
low | high
Med:
28
100% of Average
Listing Updated: February 8, 2021 8:28:48 AM PST
CLARISSA KAYSER LogoMLS Number: CV20185698
Listing Provided By:
CLARISSA KAYSER  of  LYONS ASSOCIATES
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