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2140 Magnolia AVE Long Beach, CA 90806
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Key Details
Sold Price $2,300,000
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Subdivision Wrigley Area (Wr)
MLS Listing ID PW23118541
Sold Date 09/08/23
HOA Y/N No
Year Built 1940
Lot Size 0.291 Acres
Property Description
2140 Magnolia Avenue is a 12-unit apartment property in Long Beach, California. This offering presents a great value-add opportunity with 46 percent potential upside in rents.
2140 Magnolia Avenue consists of two six-unit buildings with all one-bedroom/one-bath units that are separately metered for gas and electricity. The property also features a shared laundry room with owned machines and a rear structure with eight single-car garages. This asset boasts several major recent improvements, including a new roof on one of the buildings, some copper plumbing, and updated electrical.
The property is located in the South Wrigley neighborhood, a dense rental area with convenient proximity to the 710 Freeway, and just a few blocks west of Pacific Avenue, where a Northgate Supermarket is a short walk away.
Location
State CA
County Los Angeles
Area 5 - Wrigley Area
Zoning LBR2N
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 8.0
Garage Description 8.0
Pool None
Community Features Suburban
Total Parking Spaces 8
Private Pool No
Building
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7205025026
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with Steven Bogoyevac • Steven M. Bogoyevac, Broker