$935,000
$1,175,000
20.4%For more information regarding the value of a property, please contact us for a free consultation.
1916 Magnolia AVE Long Beach, CA 90806
3,342 SqFt
Key Details
Sold Price $935,000
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 3,342 sqft
Price per Sqft $279
Subdivision Wrigley Area (Wr)
MLS Listing ID CV20185698
Sold Date 05/21/21
Construction Status Additions/Alterations,Fixer
HOA Y/N No
Year Built 1916
Annual Tax Amount $7,779
Lot Size 4,356 Sqft
Acres 0.1
Property Description
CALLING ALL INVESTORS! INVESTMENT NEEDING SOME TLC. Opportunity to own a 4-Plex that has operated as a sober living facility for 9 years, income has historically been approximately $9,000 to $10,000 a month. Buyers to perform their own financial analysis due to the potential for conversion back to 4-plex or based on the income of sober living facility. Traditional style quadruplex. Kitchens have formica counters, flooring is laminate and tile throughout, baths have tile flooring. There are 4 units (2 beds, 1 bath; 3 beds, 2 baths; 4 beds, 2 baths; 3 beds, 2 baths) that have been converted to fit a sober living facility. This is a great opportunity for passive income either as a continued sober living facility or conversion back to 4-Plex. There are 5 one-car garages in back. Water heaters and electrical outlets are almost new. Built in 1916, the gross building area is appx. 3342 square feet on a 4149 square foot lot. With $6B in development flowing into the City of Long Beach, this is a top beach community and a perfect opportunity for any buyer looking to own a cash flowing asset with upside. Bring Offers! PLEASE FOLLOW ALL COVID-19 GUIDELINES FOR SHOWING.
Location
State CA
County Los Angeles
Area 5 - Wrigley Area
Zoning LBR2N
Rooms
Ensuite Laundry Common Area
Interior
Interior Features Balcony, Ceiling Fan(s)
Laundry Location Common Area
Heating Wall Furnace
Cooling None
Flooring Laminate, Tile
Fireplaces Type None
Fireplace No
Appliance Gas Cooktop, Gas Oven, Gas Range
Laundry Common Area
Exterior
Garage Garage Faces Rear
Garage Spaces 5.0
Garage Description 5.0
Fence Average Condition
Pool None
Community Features Biking, Street Lights, Suburban, Sidewalks
Utilities Available Cable Available, Electricity Available
View Y/N No
View None
Parking Type Garage Faces Rear
Total Parking Spaces 5
Private Pool No
Building
Lot Description Street Level
Faces West
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Architectural Style Traditional
Level or Stories Two
New Construction No
Construction Status Additions/Alterations,Fixer
Others
Senior Community No
Tax ID 7209032016
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Financing Cash to Loan
Special Listing Condition Probate Listing
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Bought with ARMANDO MENDOZA • CLASS A REALTY
The Wilkas Group - Lenore & Alexander Wilkas
Real Estate Advisors | License ID: 01343201 & 01355442