Long Beach, CA 90806,1916 Magnolia AVE
Long Beach, CA 90806,1916 Magnolia AVE
Long Beach, CA 90806,1916 Magnolia AVE
8
$935,000
$1,175,000
20.4%
Est.Price: ?

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4,356 Sqft Lot

1916 Magnolia AVE Long Beach, CA 90806

Est. payment /mo
SOLD DATE : 05/21/2021

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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

Sold Date 05/21/21

Construction Status Additions/Alterations,Fixer

HOA Y/N No

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

Interior Features Balcony, Ceiling Fan(s)

Heating Wall Furnace

Cooling None

Flooring Laminate, Tile

Fireplaces Type None

Fireplace No

Appliance Gas Cooktop, Gas Oven, Gas Range

Laundry Common Area

Exterior

Garage 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

Total Parking Spaces 5

Private Pool No

Building

Lot Description Street Level

Faces West

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Architectural Style Traditional

Level or Stories Two

New Construction No

Construction Status Additions/Alterations,Fixer

Others

Senior Community No

Tax ID 7209032016

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Financing Cash to Loan

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

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