429 Magnolia Ave, Long Beach, CA 90802

Property Description

429 Magnolia Avenue, a five-unit multifamily investment opportunity in rapidly redeveloping downtown Long Beach, California. The property is located conveniently near the 710 Freeway and the numerous dining, shopping, and entertainment opportunities downtown offers.
 The offering comprises three buildings: two rear duplexes with all one-bedroom/one-bath units, and a front house with four bedrooms and two-and-one-half baths, and laundry hookups. The units are separately metered for gas and electricity. The property also features new exterior paint, a single-car garage and six surface parking spaces, and patio areas for tenants’ enjoyment. Additionally, the duplexes have new copper plumbing, and one one-bedroom unit has been recently renovated with new tile and wood flooring, modern soft-close cabinetry, granite counter tops, a stainless steel appliance package, new windows, can lighting, and more. 
 With great cash flow on current rents and potential upside, 429 Magnolia Avenue presents an excellent opportunity to acquire a strong-performing asset in an area poised for growth.
 
 Please request and review a copy of the Offering Memorandum for this property for a detailed explanation and description of this investment and its underwriting.