NOT LISTED FOR SALE

928 Magnolia Ave Long Beach, CA 90813

Willmore Neighborhood
3 Beds
3 Baths
17,502 Sq Ft
0.95 Acres

Last Sold April 08, 2020

Last sale price $5,000,000 $286 Per Sq Ft

44 Days on Market

Highlights

  • 0.95 Acre Lot
  • No HOA
  • Laundry Room
  • Corner Lot

About This Home

As of April 2020

A great opportunity to own a quarter block on 10th and Magnolia in the up-and-coming Willmore City Historic District. This property is just north of Downtown Long Beach. The quarter block includes four properties featuring 30 units, 24 garages, on-site laundry facility and a community courtyard. Easy access to the 710 and 405 Freeways. Metro Blue Line running between Downtown Long Beach and Downtown LA.

Last Agent to Sell the Property

Penny Johnson

Coldwell Banker Realty License #02079547 Listed on: 12/16/2019

Coldwell Banker Realty

Last Buyer's Agent

Gary Tolfa

Triqor Group License #00955403

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1959

Lot Details

  • 0.95 Acre Lot
  • Two or More Common Walls
  • Corner Lot
  • Density is 26-30 Units/Acre

Parking

  • 24 Car Garage

Home Design

  • 17,502 Sq Ft Home
  • Apartment

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas, trash collection
  • Legal Lot and Block 1 / 12
  • Assessor Parcel Number 7272010004

Community Details

Overview

  • No Home Owners Association
  • 4 Buildings
  • 30 Units

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 30 Separate Electric Meters
  • 30 Separate Gas Meters
  • Electric Expense $92
  • Gardener Expense $5,570
  • Maintenance Expense $22,407
  • Pest Control $4,141
  • Water Sewer Expense $14,263
  • Operating Expense $47,023
  • Gross Income $407,463
  • Net Operating Income $294,497

Property Details

Home Type

Multi-Family

Year Built

Built in 1959

Lot Details

0

Parking

24

Listing Details

  • Other Phone Description: 310-930-5598
  • Property Attached: Yes
  • Subdivision Name Other: Drake Park/ Willmore Area
  • Water Sewer Expenses: 14263.00
  • Zoning: LBPD10
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 5570.00
  • Parcel Number: 7272010004
  • Year Built: 1959
  • Special Features: None

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 285.68

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 24.00
  • Total Parking Spaces: 24.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Pest Control Expense: 4141.00
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 26-30 Units/Acre, Corner Lot, Lot Over 40000 Sqft
  • Lot Size Sq Ft: 41281.00
  • Lot Size Acres: 0.9477

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas, Trash Collection

Multi Family

  • Electric Expense: 92.00
  • Gross Income: 407463.00
  • Gross Scheduled Income: 407463.00
  • Lot Size Area: 41281.0000 Square Feet
  • Maintenance Expense: 22407.00
  • Net Operating Income: 294497.00
  • Number Of Separate Electric Meters: 30
  • Number Of Separate Gas Meters: 30
  • Number Of Units Total: 30
  • Operating Expense: 112966.00
  • Rent Control: Yes
  • Total Expenses: 47023.00

Tax Info

  • Tax Block: 12
  • Tax Census Tract: 5758.02
  • Tax Lot: 1

Range of Values:

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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
04/08/2020 04/08/20 Sold $5,000,000 -21.9% $286 / Sq Ft
01/29/2020 01/29/20 Pending -- -- --
01/08/2020 01/08/20 Price Changed $6,399,000 -8.6% $366 / Sq Ft
12/16/2019 12/16/19 For Sale $7,000,000 -- $400 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • P

    Seller's Agent in 2020

    Penny Johnson

    Coldwell Banker Realty

    Section Image
  • Gary Tolfa

    Buyer's Agent in 2020

    Gary Tolfa

    Triqor Group

    (949) 756-3232

    1 in this area

    19 Total Sales

    Gary Tolfa
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW19284138

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90813 Willmore

928 Magnolia Ave, Long Beach, CA

This home is located at 928 Magnolia Ave, Long Beach, CA 90813 since 16 December 2019. This property was built in 1959. 928 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.

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.

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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