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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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$1,175,000
Annual Income
$78,540
Annual NOI
$45,338
Annual Expense
$29,275
Rental Cost Details
| # OF UNITS | # OF BEDROOMS | # OF BATHS | ACTUAL RENT | TOTAL RENT | PRO FORMA | TOTAL PRO FORMA |
| 1 | 2 | 1 | $1,995 | $1,995 | $2,100 | $2,100 |
| 1 | 1 | 1 | $1,465 | $1,465 | $1,600 | $1,600 |
| 1 | 1 | 1 | $1,565 | $1,565 | $1,600 | $1,600 |
| 1 | 1 | 1 | $1,520 | $1,520 | $1,600 | $1,600 |
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 4 | 5 | 4 | $6,545 | $6,900 |
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