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$ 3,200,000
Est. payment | /mo
1 Bed
1 Bath
8,737 Sqft Lot
$ 3,200,000
Est. payment | /mo
1 Bed
1 Bath
8,737 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Downtown (Dt)
MLS Listing ID SB26197731
Bedrooms 1
Lot Size 8,737 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
We are pleased to present 1211 Magnolia Avenue, a pride-of-ownership, turnkey 16-unit multifamily property located in Long Beach. The property features an efficient all one-bedroom unit mix, five garages, on-site laundry, and additional upside through modest rent growth and potential garage-area ADUs. At the asking price, 1211 Magnolia is offered at approximately $294 per square foot while generating a 6.80% current capitalization rate and a 7.74% pro forma capitalization rate. The investment thesis is straightforward: acquire a well- renovated asset at a discounted basis, capture a near-7% day-one yield, and retain additional upside through rent normalization and potential future ADU development. The property offers investors a true ease-of-management opportunity. Current ownership extensively renovated the building with the intention of holding it for the long term, completing comprehensive upgrades while preserving its original 1930s Spanish-style character. The rehabilitation was executed with that character in mind, including restoration of original oak flooring and installation of mission-style lighting, alongside fully remodeled interiors, replacement windows, upgraded electrical meters, plumbing and HVAC systems. Renovation decisions prioritized quality, durability and longevity. With the renovated units leased at market rents, a new owner benefits from immediate stabilized income without the execution risk, downtime or capital requirements typically associated with a value-add renovation program. Importantly, the pro forma rents can be achieved through annual rent
Location
State CA
County Los Angeles
Zoning Public Rec
Direction Cross streets are Magnolia and Loma Vista
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7272003003
Acceptable Financing Cash
Listing Terms Cash
Listed by Nico Rosmarin, DRE#02023847 Lyon Stahl Investment Real Estate, Inc.
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