Offering a 4.44% Cap Rate on current rents, 848-850 Magnolia Ave. is a charming duplex made up of (1) 3-bed/1-bath and (1) 2-bed/1-bath in Downtown Long Beach.
The property was completely gutted in 2001 with all new copper plumbing, gas & sewer lines, electrical, electrical panels, heaters, and flooring. There are (5) total parking spaces in the backyard, which has been recently repaved. Each unit has their own washer/dryer and is receiving strong rents.
This is the perfect opportunity for any buyer or owner/user looking to own a piece of one of Southern California's last affordable beach communities.
The three bedroom unit will be ready for owner occupy.