Stabilized Apartment
1153 MAGNOLIA AVE Long Beach, CA 90813
1153 MAGNOLIA AVE, Long Beach, CA, 90813
Contact for pricing
For Sale
Contact for pricing
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 Market12
Property Features for 1153 MAGNOLIA AVE
General Information
- Standard status
- Active
- Size
- 20,424 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1963
Listing Agency
Stepp Commercial
(310) 463-2916
Listed by
Robert Stepp · License #CA 01456379
Source
Crexi
Added: Jul 9 Checked: Jul 17 at 5:59 am
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
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
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $821.0k | $40.20 |
| − Vacancy | −$34.5k | −$1.69 |
| EGI | $786.6k | $38.51 |
| − OpEx | −$354.0k | −$17.33 |
| NOI | $432.6k | $21.18 |
20,424 SF · lease $40.20/SF/yr · vacancy 4.20% · expense 45.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
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
