1604 Magnolia Ave

-1604 Magnolia Avenue is an 8-unit apartment building located in Long Beach, California. Constructed in 1928, the subject property contains 3,428 rentable square feet which is located on a 3,650 square foot lot. The building consists of four (7) studio units,and four (1) one bedroom and one bathroom units; there are also three garages that are located on the rear of the property. Located in the Washington neighborhood of Long Beach, the property is situated on Magnolia Avenue. Just two blocks South from Pacific Coast Highway, two blocks North from Seaside Park; the property is walking distance to many amenities. The property enjoys easy access to several major freeways including the 710, 110, and 405 Freeways, providing convenient routes for those commuting to other parts of Long Beach or even to neighboring cities within the greater Los Angeles area. This accessibility to major roadways enhances the property's connectivity and makes it more convenient for residents who need to travel by car. The property offers economically friendly units that are perfect for the working-class individuals that value being centrally located to all business sectors of Long Beach, surrounding cities, and the Greater Los Angeles Area. Long Beach has provided a historically strong tenant occupancy, which makes filling vacancies effortless. Long Beach is a diverse city in Southern California with a strong economy and a lively cultural scene. It attracts a diverse population of tenants due to its job opportunities, music festivals, cultural celebrations, sporting events, and natural attractions such as beaches and parks. The property features a total of (1) one bedroom units and (7) studio units. Studios and one bedroom units are often easier to rent out than larger units, making them less likely to experience vacancy periods. Additionally, they are typically less expensive to maintain and can be a more affordable option for tenants, making them a popular choice in certain markets. The property also offers the opportunity to make additional income by having 3 individual garages. These garages can be rented out individually for parking or storage. These garages also provide the opportunity to increase the unit count by utilizing the Long Beach ADU program. 1604 Magnolia Avenue is an exceptional investment opportunity for those looking to acquire a quality multi-family property in Long Beach. With its attractive design, convenient location, and functional units, this apartment building is sure to be a desirable destination for renters and a smart investment for its owner.