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.
Sold for $2,300,000
Zillow last checked:
Listing updated:
Bought with:
Steven Bogoyevac, DRE #01332755
Steven M. Bogoyevac, Broker
Source: CRMLS,MLS#: PW23118541
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSPrice history
| Date | Event | Price |
|---|---|---|
| 9/8/2023 | Sold | $2,300,000$274/sqft |
Source:  CRMLS #PW23118541 Report a problem | ||
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Estimated market value
$2,620,200
