2 months on rocket

1600 Magnolia Ave, Long Beach, CA, 90813

$1,395,000

Home List Price

$10,000*

Closing Credit

8 Bedrooms
5 Baths
3,366 SqFt
$414/SqFt
House

Location

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1600 Magnolia Ave, Long Beach$1,395,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeOther
Garage4 spaces
Year Built1955
HeatingWall Furnace
CoolingNone
FireplaceNone
ViewNone
MLS #24439935
Lot Size0.08 Acres
StatusActive

About 1600 Magnolia Ave

Proforma 6.4 Cap! Excellent opportunity to acquire a stable 4-unit building in the Alamitos Beach area of Long Beach at current 5.23 Cap rate. This building is only 16-17 blocks to Shoreline Village, Long Beach Convention Center, Aquarium of the Pacific, and everything else fantastic about the Pike area of the Long Beach Shoreline. The immediate few block radius has been going through a renaissance with new construction evident all around. Fancy up this building to have a strong long term hold asset to take full advantage of Long Beach's strong future. This property was formally converted from a 5-unit building to a 4-unit building. Enjoy 30 year fixed residential financing! There is a laundry room that was not used by the current owners which can provide additional income and increase the cap rate. Each unit has a 1-car garage. Downstairs unit is 3 beds and 2 baths. Upstairs there are two 1-bed and 1 bath units and one 3-bed 1 bath unit.

Property Details

Property Features

Property Information:

  • Year Built: 1955
  • Stories: 2
  • Living Area: 3,366 SqFt

Listing Office:

  • Office Name: Elite Representation Real Estate
  • Office Phone: (310) 387-0482
  • Listing Agent: Melissa Barlow

Interior Features

Interior Information:

  • Appliances: Disposal
  • Fireplace: None

Bedroom and Bathroom Information:

  • Total Bedroom Count: 8

Exterior Features

Exterior Information:

  • Private Pool: No
  • View: None

Parking Information:

  • Garage Space: 4 spaces

Lot Features

Lot Information:

  • Lot Size: 0.08 Acres

Utilities

Utilities Information:

  • Heating: Wall Furnace
  • Cooling: None

Other

Directions Information:

  • Directions: Magnolia Avenue and Pacific Coast Highway

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,395,000
  • Price Per SqFt: $414/SqFt

Tax Information:

  • Annual Amount: $5,777
  • 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

1600 Magnolia Ave vs Long Beach

62 DAYS ON ROCKET

+28 Days

$1,395,000

+$570.3K More

$414/SqFt

-$219 Less

KEY TAKEAWAY

This property is $570.3K more than the Median Sold Price and $219/SqFt less than other homes in Long Beach, CA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CRMLS
  • MLS Number: #24439935

Listing Office:

  • Office Name: Elite Representation Real Estate
  • Office Phone: (310) 387-0482
  • Listing Agent: Melissa Barlow

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, 11:20:51 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Mar 28, 2011Home Sold
$350,000
Nov 01, 2001Home Sold
$325,000
Jan 29, 1999Home Sold
$310,000
Mar 02, 1998Home Sold
$167,500

Tax History

YEARPROP. TAXASSESSMENT
2021$5,777$414,255
2020$5,693$410,008
2019$5,522$401,970
2018$5,463$394,090
2017$5,463$386,364

History based on county public records data.

Payment Calculator

$7,030

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$4,249

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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-380650
6
/10

  • Roosevelt Elementary School

  • 1574 Linden Ave

  • 0.67 miles

  • Public District Grades KG-5

school-card-donut-380651
5
/10

  • Oropeza Elementary School

  • 700 Locust Ave

  • 0.88 miles

  • Public District Grades KG-5

school-card-donut-380652
6
/10

  • Edison Elementary School

  • 625 Maine Ave

  • 0.88 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 $24,276. The majority of Long Beach, CA residents have income less than $35k annually. Most families are single, no kids. Residents of this area typically have high school diploma education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 1600 Magnolia Ave

What is the listing price of this property?

The listing price of 1600 Magnolia Ave property is $1,395,000.

What type of property is this?

The property 1600 Magnolia Ave is a house located in Long Beach, California, 90813.

Is this property for sale now?

Active Listing: 1600 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 $5,777 (source: MLS/based on county public records data).

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

The last sale was on March 28, 2011 for $350,000. (source: MLS/tax record).

How many bedrooms and bathrooms does this property have?

The property at 1600 Magnolia Ave has 8 bedrooms and 5 bathrooms.

What is the square footage of this property?

The property 1600 Magnolia Ave is 3,366 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 1600 Magnolia Ave is 1955.

Rocket Homes›California›Los Angeles County›Long Beach›90813›1600 Magnolia Ave

This home is located at 1600 Magnolia Ave in Long Beach, CA and zip code 90813 in the The Harbor neighborhood. This 3,366 square foot home, which was built in 1955, sits on a 0.08 acre lot. Features: 8 bedrooms, 5 bathrooms. It has been listed on Rocket Homes since September 15, 2024 and is currently priced at $1,395,000.

In October 2024 more than 94 listings in Long Beach, CA were sold above the asking price. During the same period more than 35 listings were sold at asking price, while 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. In October 2024 median list price was $824,667 and the average listing age was 34 days.

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

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