Magnolia Ave, Long Beach, Home For Sale

house for sale

Listed: 08/17/24

1409 Magnolia Ave, Long Beach, California, 90813

14 Bed:

6 Bath:

3,992 Sq Ft Living Area:

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Price

$ 1,7M

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About This House

Great Cash-Flow Deal! Located just outside of booming Downtown Long Beach, 1409 Magnolia Ave is a well-maintained 6 unit building with a high yielding unit mix of (3) 3Bed/1Bath, (2) 2Bed/1Bath, and (1) 1Bed/1Bath units. The property currently grosses$13, 671/month and operates at a 7.15% CAP and10.19 GRM. 1409Magnolia Ave is the ideal investment for investor looking for day 1 cash-flow with significant upside in rental income. The subject property is located just outside the $6 Billion of development flooding into Downtown LB, including the Long Beach Civic Center, Long Beach Aquarium, OceanAire Project, CSULBProject, CSULBDowntown Village, Broadway Block, the Pacific and Queen Mary Island.

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Houses for sale in Long Beach

Original listing

Long Beach Housing & Living

Average sale prices for houses

2 bed

3 bed

4+ bed

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Month	Median Price
Aug 2024	$855,288 (+3.1%)
Jul 2024	$829,399 (+1.1%)
Jun 2024	$820,250 (-12.7%)
May 2024	$939,766 (+0.6%)
Apr 2024	$934,572 (0%)
Mar 2024	$934,572 (0%)

In August 2024, the asking price for 2 bed houses for sale in/near Long Beach, United States averaged $855,288, an increase of 3.1% from the previous month.

Median price trends for properties for sale in Long Beach, United States as of August 2024.

Household Income

Median household income: $61,610

Number of households: 173,432

The average household income in Long Beach, CA grew from $60,557 to $61,610 in the past year. This data is an estimate based upon 173,432 households in Long Beach, CA.
The chart below presents how household income is distributed in Long Beach, CA in comparison to the revenue allocation amid households nationally.

Property Taxes

Average range: $3k+

One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Long Beach, CA compared to median property taxes around the country. The prevalent amount of property taxes in Long Beach, CA equals $3k+ , which is more than the national average.