We are pleased to present the subject property located at 917-925 Magnolia Avenue in the Willmore City Historic District of Long Beach, California. The property features an excellent unit mix. It is a great Income property with $58,140 of annual cashflow and room for more. Neighborhood is quickly gentrifying with a new community parks being created nearby shortly. Subject property has Excellent long term tenants. Two upstair units have been recently renovated. The property has the following: Unit 921 - 2 bedrm/ 1 ba, Unit 925 - 3 bedrm/ 2 ba, Unit 917 - 1 bedrm/ 1 ba, Unit 923 - 2 bedrm/ 1 ba w/ Bonus room and three (3) enclosed single car garage. All the units are large and roomy with nice coastal breeze, especially, the upstair units. Near Freeway and the newly built Long Beach Courthouse. All offers Subject to Interior Inspection upon opening of Escrow. The City of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Port of Long Beach is currently undergoing $4.4 billion in redevelopment that will also create 14,000 new and permanent jobs in Southern California. The $495 million Long Beach Courthouse recently opened in September of 2013. Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This is a rare opportunity to acquire a quality asset in a prime location with true rental upside and stable return. Financial Summary Unit Mix Information Debt & Equity Information Actual . Year 2014 . Scheduled Gross Income $58,140 Property is already has a agent representing the premise. Buyer offering 2% commission for selling of premises.
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