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1526 Magnolia Ave, Long Beach

  • Each unit was recently taken down to the studs and fully renovated with all new kitchens, bathrooms, flooring, appliances, painting, lighting, ceiling fans, and much more
  • Major improvements to the property include all new windows, roofs, garage doors, hot water heaters, gates, fencing, landscaping, exterior lighting, plumbing, and electrical
  • Fully stabilized asset that will allow for an easy ownership and management experience only 17 blocks from the ocean
  • Self-managing will allow an investor to achieve over a 4.4% cap rate and under a 15 GRM
  • ADU potential with a garage conversion or a new build in the courtyard

Property Details

  • Units: 4
  • Gross Rent Multiplier: 14.96
  • Cap Rate: 3.9%

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Price

$1,175,000

Annual Income

$78,540

Annual NOI

$45,338

Annual Expense

$29,275

Rental Cost Details

# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL PRO FORMA
121$1,995$1,995$2,100$2,100
111$1,465$1,465$1,600$1,600
111$1,565$1,565$1,600$1,600
111$1,520$1,520$1,600$1,600
TOTAL # OF UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
454$6,545$6,900

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