2140 Magnolia Ave, Long Beach, CA 90806

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.