Seller's Agent in 2014
Julie Hughes
Realty One Group Homelink
(714) 393-5055
24 Total Sales
1146 Magnolia Ave Long Beach, CA 90813
Willmore Neighborhood
14
Beds
10
Baths
22,998
Sq Ft
0.42
Acres
Highlights
- 0.42 Acre Lot
- No HOA
- Tile Flooring
- Traditional Architecture
- Laundry Room
- 19 Car Garage
About This Home
As of October 20141146-1152 Magnolia Ave, Long Beach. This is a meticulously maintained 32 unit building in a great rental area of LB. 2 buildings on 2 parcels (1146 Magnolia = 7272004010, 1152 Magnolia = 7272004009). A great mix of 24 - 1 Bed/1 Bath units and 8 - 2 Bed /1 Bath units. Buildings are very sizable (22,998 sq ft). A large lot (18,197 sq ft) offers tenants a spacious courtyard and garage/parking area. All electric building - individually metered and each unit has it's own water heater (keeps expenses down). Milgard dual pane windows throughout building. 2 laundry facilities w/ seller's own machines. 19 enclosed garages = extra income. There is definite room to raise rents - NO rent control in LB. Please call for further income and expense information on this well managed building. This is a great opportunity for the savvy Long Beach investor to add an incredible building to your portfolio! Income is actual and expenses are estimated. Proforma rent for 2 bedrooms is $1200. Proforma rent for 1 bedrooms is $950. Total monthly Proforma income = $33,700. Annual Proforma income = $404,400/yr - GRM = 11.37 - Proforma Cap = 6.40%
Last Agent to Sell the Property
Realty One Group Homelink License #01360644 Listed on: 05/31/2014
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1963
Lot Details
- 0.42 Acre Lot
- Property fronts an alley
- Two or More Common Walls
Parking
- 19 Car Garage
- Parking Available
Home Design
- Traditional Architecture
- Property Attached
- Entry on the 2nd floor
Interior Spaces
- 22,998 Sq Ft Home
- 3-Story Property
- Free-Standing Range
- Laundry Room
Flooring
- Carpet
- Tile
Bedrooms and Bathrooms
- 14 Bedrooms
- 10 Bathrooms
Utilities
- Radiant Heating System
Listing and Financial Details
- Tenant pays for electricity
- Legal Lot and Block 5 / 6
- Tax Tract Number 57582
- Assessor Parcel Number 7272004010
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 32 Units
Amenities
- Laundry Facilities
Building Details
- 32 Leased Units
- 34 Separate Electric Meters
- 2 Separate Water Meters
- Gross Income $30,310
- Net Operating Income $264,606
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/29/2014 10/29/14 | Sold | $4,170,000 | -11.3% | $181 / Sq Ft |
| 10/23/2014 10/23/14 | Pending | -- | -- | -- |
| 05/31/2014 05/31/14 | For Sale | $4,700,000 | -- | $204 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $33,568 | $2,505,849 | $1,754,697 | $751,152 |
| 2024 | $33,568 | $2,456,716 | $1,720,292 | $736,424 |
| 2023 | $32,982 | $2,408,546 | $1,686,561 | $721,985 |
| 2022 | $30,990 | $2,361,321 | $1,653,492 | $707,829 |
| 2021 | $30,311 | $2,315,021 | $1,621,071 | $693,950 |
| 2019 | $29,877 | $2,252,098 | $1,572,990 | $679,108 |
| 2018 | $29,095 | $2,208,053 | $1,542,148 | $665,905 |
| 2016 | $26,751 | $2,116,796 | $1,482,265 | $634,531 |
| 2015 | $25,701 | $2,085,000 | $1,460,000 | $625,000 |
| 2014 | $26,102 | $2,090,239 | $1,071,076 | $1,019,163 |
Source: Public Records
Agents Affiliated with this Home
-
Julie Hughes
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW14113072
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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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