NOT LISTED FOR SALE

1127 Magnolia Ave Long Beach, CA 90813

Willmore Neighborhood
1 Bed
2 Baths
4,128 Sq Ft
8,747 Sq Ft Lot

Last Sold April 29, 2014

Last sale price $765,000 $185 Per Sq Ft

67 Days on Market

About This Home

As of April 2014

We are pleased to present a 10-unit apartment complex located at 1127 Magnolia Avenue in Long Beach,
California. Built in 1920, the subject property consists of 4,128 rentable square feet with a lot size of 8,747 square feet.
The subject property has eight studio/one-bath units and two one-bedroom/one-bath units. Owners enjoy the high
demand for rentals in a coastal city of Southern California, while tenants enjoy being in close proximity to Downtown
Long Beach, which is known for its major tourist attractions, plentiful businesses, hotels, restaurants, and entertainment.
This is a rare opportunity to acquire a quality asset in a prime location with true rental upside and stable return.

Last Agent to Sell the Property

Kevin King

Marcus & Millichap License #01158184 Listed on: 01/06/2014

Last Buyer's Agent

Shaun Hurley

Coldwell Banker Realty License #00870450

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1920

Lot Details

  • 8,747 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Home Design

  • 4,128 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 1 Bedroom
  • 2 Bathrooms

Utilities

  • Septic Type Unknown

Listing and Financial Details

  • Tax Lot 21
  • Tax Tract Number 5758
  • Assessor Parcel Number 7272003017

Community Details

Overview

  • 10 Units

Building Details

  • 10 Separate Electric Meters
  • 10 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $720
  • Insurance Expense $1,651
  • Maintenance Expense $5,000
  • Other Expense $2,500
  • Professional Management Expense $3,964
  • Trash Expense $750
  • Water Sewer Expense $6,000
  • New Taxes Expense $10,625
  • Gross Income $6,954
  • Net Operating Income $48,066

Property Details

Home Type

Multi-Family

Year Built

Built in 1920

Lot Details

0

Listing Details

  • CapRate: 5.65
  • Price Per Unit: 85000
  • Professional Management Expense: 3964.00
  • Property Attached: Yes
  • Subdivision Name Other: Downtown (DT)
  • Water Sewer Expenses: 6000.00
  • Property Type: Residential Income
  • Gardener Expense: 720.00
  • Parcel Number: 7272003017
  • Year Built: 1920
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 185.32

Exterior Features

  • Pool Private: No

Utilities

  • Sewer: Unknown
  • Trash Expense: 750.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Sidewalks

Lot Info

  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 8747.00
  • Lot Size Acres: 0.2010

Multi Family

  • Gross Income: 6954.00
  • Gross Multiplier: 10.19
  • Gross Scheduled Income: 83448.00
  • Insurance Expense: 1651.00
  • Lot Size Area: 8747.0000 Square Feet
  • Maintenance Expense: 5000.00
  • Net Operating Income: 48066.00
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 10
  • Operating Expense: 31210.00
  • Other Expense: 2500.00
  • Other Expense Description: Misc&Res
  • Rent Control: No

Tax Info

  • New Taxes Expense: 10625.00
  • Tax Lot: 21
  • Tax Tract Number: 5758
  • Tax Year: 2012

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/29/2014 04/29/14 Sold $765,000 -10.0% $185 / Sq Ft
03/14/2014 03/14/14 Pending -- -- --
01/06/2014 01/06/14 For Sale $850,000 -- $206 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Kevin King

    Seller's Agent in 2014

    Kevin King

    Marcus & Millichap

    (562) 257-1245

    1 in this area

    45 Total Sales

    Section Image
  • Shaun Hurley

    Buyer's Agent in 2014

    Shaun Hurley

    Coldwell Banker Realty

    (949) 463-4663

    46 Total Sales

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW14002886

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Long Beach 90813 Willmore

1127 Magnolia Ave, Long Beach, CA

This home is located at 1127 Magnolia Ave, Long Beach, CA 90813 since 06 January 2014. This property was built in 1920. 1127 Magnolia Ave is a home located in Los Angeles County with nearby schools including Edison Elementary School, Washington Middle School, and Juan Rodriguez Cabrillo High School.

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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