6 months on rocket

1409 Magnolia Ave, Long Beach, CA, 90813

$1,650,000

Home List Price

$10,000*

Closing Credit

0 Baths
Condo

Location

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1409 Magnolia Ave, Long Beach$1,650,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeCondominium
Garage4 spaces
Year Built1925
MLS #SB24072243
Lot Size0.11 Acres
StatusActive

About 1409 Magnolia Ave

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 $13,756/month and operates at a 7.30% CAP and 10.00 GRM. 1409 Magnolia 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, CSULB Project, CSULB Downtown Village, Broadway Block, the Pacific and Queen Mary Island.

Property Details

Property Features

Property Information:

  • Year Built: 1925
  • Stories: 2

Listing Office:

  • Office Name: Lyon Stahl Investment Real Estate, Inc.
  • Office Phone: (310) 259-7556
  • Listing Agent: Cameron Samimi

Exterior Features

Exterior Information:

  • Private Pool: No

Parking Information:

  • Garage Space: 4 spaces

Lot Features

Lot Information:

  • Lot Size: 0.11 Acres

Other

Directions Information:

  • Directions: Off Magnolia, Off Anaheim

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,650,000

Tax Information:

  • Annual Amount: $13,746
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Long Beach, CA.

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Long Beach, CA

City

Med. Sold Price

$824.6K

Med. Price/SqFt

$633

Avg. Days On Market

34

# of Sold Homes

212

1409 Magnolia Ave vs Long Beach

199 DAYS ON ROCKET

+165 Days

$1,650,000

+$825.3K More

KEY TAKEAWAY

This property is $825.3K more than the Median Sold Price in Long Beach, CA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CRMLS
  • MLS Number: #SB24072243

Listing Office:

  • Office Name: Lyon Stahl Investment Real Estate, Inc.
  • Office Phone: (310) 259-7556
  • Listing Agent: Cameron Samimi

IDX 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/17/2024, 1:20:53 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Feb 01, 2021Home Sold
$1,420,000
Jan 22, 2016Home Sold
$970,000
May 26, 2005Home Sold
$560,000
May 12, 2004Home Sold
$475,000

Tax History

YEARPROP. TAXASSESSMENT
2021$13,746$994,120
2020$13,526$983,928
2019$13,132$964,636
2018$12,990$945,723
2017$12,990$927,180

History based on county public records data.

Payment Calculator

$8,303

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$5,013

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-428127
6
/10

  • Edison Elementary School

  • 625 Maine Ave

  • 0.68 miles

  • Public District Grades KG-5

school-card-donut-428128
6
/10

  • Roosevelt Elementary School

  • 1574 Linden Ave

  • 0.72 miles

  • Public District Grades KG-5

school-card-donut-428129
5
/10

  • Oropeza Elementary School

  • 700 Locust Ave

  • 0.72 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $34,286. Residents of Long Beach, CA typically earn less than $35k each year. The most common type of family is single, with kids. Residents of this area typically have high school diploma education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 1409 Magnolia Ave

What is the listing price of this property?

The listing price of 1409 Magnolia Ave property is $1,650,000.

What type of property is this?

The property 1409 Magnolia Ave is a condo located in Long Beach, California, 90813.

Is this property for sale now?

Active Listing: 1409 Magnolia Ave is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $13,746 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on February 1, 2021 for $1,420,000. (source: MLS/tax record).

Which year was this property built?

The year of construction for 1409 Magnolia Ave is 1925.

Rocket Homes›California›Los Angeles County›Long Beach›90813›1409 Magnolia Ave

This home is located at 1409 Magnolia Ave in Long Beach, CA and zip code 90813 in the The Harbor neighborhood. This home, which was built in 1925, sits on a 0.11 acre lot. It has been listed on Rocket Homes since May 02, 2024 and is currently priced at $1,650,000.

While more than 94 listings in Long Beach, CA in October 2024 were sold above asking price, there were more than 35 listings sold at asking price, and more than 83 were sold below. The number of homes for sale in Long Beach, CA decreased by 0.1% between September 2024 and October 2024. Listings spent 34 days on the market in October 2024, and had a median list price of $824,667 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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