Stabilized Apartment
For Sale
Contact for pricing
1153 MAGNOLIA AVE, Long Beach, CA 90813
Stabilized 28-unit apartment community with a central courtyard, fourteen private garages, and on-site laundry facilities.
Property Size20,424 SF
Price / SF$327.31
Days on Market117
Property Features for 1153 MAGNOLIA AVE
General Information
Standard status
Active
Size
20,424 SF
Total Parking Spaces
14
Property subtype
Multifamily
Investment Type
Value Add
Net Operating Income
$402,926
Site & Location
Neighborhood
Willmore
Additional Details
Business Included
Yes
Multifamily Units
28
Building Details
Year Built
1963
Buildings
2
Units
28
Listing Agency:
Stepp Commercial
Listed By:
Robert Stepp · License #CA 01456379
(310) 774-3740
Source:
Crexi
Added: Jul 9
Changed: Nov 1
Last Checked: Nov 1 at 6:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Stepp Commercial
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Investment Insights
Based on property information with market context.
1153–1161 Magnolia Avenue is a stabilized 28-unit apartment community designed for comfortable day-to-day living. The property includes an attractive central courtyard, fourteen private garages, and on-site laundry facilities, supporting an in-place residential program.
The community is located at 1153 Magnolia Ave in Long Beach, California. The offering is positioned for investors seeking dependable current income alongside longer-term rental upside tied to natural tenant turnover and disciplined asset management.
The unit mix is described as balanced, and the property is presented as requiring limited renovation capital compared with typical value-add investments.
The community is located at 1153 Magnolia Ave in Long Beach, California. The offering is positioned for investors seeking dependable current income alongside longer-term rental upside tied to natural tenant turnover and disciplined asset management.
The unit mix is described as balanced, and the property is presented as requiring limited renovation capital compared with typical value-add investments.
Key Highlights
- Stabilized 28‑unit apartment community with a central courtyard
- 14 private garages included for tenants
- On‑site laundry facilities on the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$432,609
Cap Rate
6.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,652,180
$8.7M
Cap Rate 7%
$6,180,129
$6.2M
Cap Rate 9%
$4,806,767
$4.8M
Market Conditions
NOI Build-Up for 20,424 SF
Gross rent
$821.0K $40.20/SF
− Vacancy
−$34.5K −$1.69/SF
EGI
$786.6K $38.51/SF
− OpEx
−$354.0K −$17.33/SF
NOI
$432.6K $21.18/SF
Area
ZIP 90813
Vacancy
4.20%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,652,180
Cap Rate 7%
$6,180,129
Cap Rate 9%
$4,806,767
Alternative Uses
Best Use
Apartment 5plus
$6.18M
$5.41M – $7.21M
NOI $432,609 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$6.71M
$5.87M – $7.82M
NOI $469,441 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Lease Details
28
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,210
Businesses Nearby
Explore this area
Business Placement
Demographics for 90813, CA
54,565
Population
18,603
Households
2.9
Avg Household Size
32
Median Age
16%
College-Educated
63%
High-School Grad
3.1 sq mi
ZIP Area
17,602
Density / Sq Mi
$50,302
Median Household Income
$31,450
Median Earnings
$1,578
Median Rent
$543,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Stabilized 28-unit apartment community with a central courtyard, fourteen private garages, and on-site laundry facilities.
Where is this apartment building located?
The property is located at 1153 MAGNOLIA AVE Long Beach, CA.
What is the asking price?
The asking price for this property is $6,685,000.
What are key features of this property?
This property features: Stabilized 28‑unit apartment community with a central courtyard; 14 private garages included for tenants; On‑site laundry facilities on the property
