GET STARTED

817 Magnolia Ave, Long Beach 90813

Garden-style property sitting on a large lot with four separate buildings consisting of five one-bedroom units, a detached four bedroom house, five garages and a large storage shed. The property offers investors a value-add asset with rental upside located in the Willmore Historic District, in close proximity to the multitude of jobs and amenities in Downtown Long Beach and Pine Square. Please note, the property features copper plumbing, new main and sub electrical panels, and wood floors in the units.

sold

UNITS: 6

GROSS RENT MULTIPLIER: 12.45

CAP RATE: 5.05

PRICE

$1,225,000

ANNUAL INCOME

$93,412

ANNUAL NOI

$61,885

ANNUAL EXPENSE

$31,527

Rental Cost Details

# OF UNITS # OF BEDROOMS # OF BATHS ACTUAL RENT TOTAL RENT PRO FORMA TOTAL PRO FORMA
111$1,050$1,050$1,200$1,200
111$990$990$1,275$1,275
111$1,200$1,200$1,275$1,275
111$1,154$1,154$1,275$1,275
111$1,000$1,000$1,275$1,275
142$2,300$2,300$2,500$2,500
TOTAL # OF UNITS TOTAL # OF BEDROOMS TOTAL # OF BATHS GRAND TOTAL RENT GRAND TOTAL PRO FORMA
697 $7,694 $8,800
v