We are pleased to present 1211 Magnolia Avenue, a pride-of-ownership, turnkey 16-unit multifamily property located in Long Beach. The property features an efficient all one-bedroom unit mix, five garages, on-site laundry, and additional upside through modest rent growth and potential garage-area ADUs. At the asking price, 1211 Magnolia is offered… Read More at approximately $294 per square foot while generating a 6.80% current capitalization rate and a 7.74% pro forma capitalization rate. The investment thesis is straightforward: acquire a well- renovated asset at a discounted basis, capture a near-7% day-one yield, and retain additional upside through rent normalization and potential future ADU development. The property offers investors a true ease-of-management opportunity. Current ownership extensively renovated the building with the intention of holding it for the long term, completing comprehensive upgrades while preserving its original 1930s Spanish-style character. The rehabilitation was executed with that character in mind, including restoration of original oak flooring and installation of mission-style lighting, alongside fully remodeled interiors, replacement windows, upgraded electrical meters, plumbing and HVAC systems. Renovation decisions prioritized quality, durability and longevity. With the renovated units leased at market rents, a new owner benefits from immediate stabilized income without the execution risk, downtime or capital requirements typically associated with a value-add renovation program. Importantly, the pro forma rents can be achieved through annual rent increases alone, with no further capital expenditure required. 1211 Magnolia Avenue is situated in Long Beach s Willmore neighborhood, just minutes from Downtown Long Beach, its waterfront amenities and the 710 Freeway. Read Less
Courtesy of Lyon Stahl Investment Real Estate, Inc. 310-425-9838
Listing Snapshot
Days Online
37
Last Updated
Property Type
Apartment
Beds
16
Square Ft.
10,900
Lot Size
0.2 Acres
Year Built
1930
MLS Number
SB26197731MR
Additional Details
Building
10,900 sq ft, Built in 1930, Attached, Spanish
Community
Urban
Fireplaces
None
Garage
5 total garage spaces
Water Features
Water: Public
Home Owner's Association
Homeowner Dues: $0
Laundry
Community, Room
Lot
LotAcreage: 0, LotSizeArea: 8,737
Parking
CarportSpacesTotal: 0, TotalParking: 5
Pool
None
Property
EntryFloorNumber: 1, LandLeaseType: Fee, NumberOfUnits: 16, PropertySubType: Apartment, ViewDescription: City Lights, ViewYN: t
Sewer
Public Sewer
Spa
None
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