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Magnolia Apartments 1153-1161 Magnolia Ave 28 Unit Apartment Building $9,471,375 CAD ($338,263 CAD/Unit) 6.02% Cap Rate Long Beach, CA 90813
Investment Highlights
- Strong 6.02% Day-One Cap Rate
- Attractive Price of $238,750 per Unit
- 14 Private Garages with Income Potential
- 28-Unit Apartment Community - Balanced Mix of (14) 1BD and (14) 2BD Units
- Current Rents Approx. $100+ per unit Below Market
- Immediate Cash Flow with Limited CapEx Requirement
Executive Summary
153-1161 Magnolia Avenue offers investors the opportunity to acquire a stabilized 28-
unit apartment community that generates attractive day-one cash flow while providing meaningful long-term rental upside. Unlike many value-add investments that require significant renovation capital, the property delivers strong in-place income with the opportunity to increase revenues through natural tenant turnover and disciplined asset management.
The property’s balanced unit mix, attractive central courtyard, fourteen private garages, and on-site laundry facilities create a highly desirable living environment that supports tenant retention while providing additional income opportunities.
Located in one of Southern California’s strongest rental markets, the property benefits
from Long Beach’s expanding aerospace, healthcare, logistics, and technology sectors, creating long-term demand for quality workforce housing. Combined with strong current returns, modest rental upside, and limited operational risk, Magnolia Avenue represents
an exceptional opportunity for investors seeking both dependable income and future appreciation.
unit apartment community that generates attractive day-one cash flow while providing meaningful long-term rental upside. Unlike many value-add investments that require significant renovation capital, the property delivers strong in-place income with the opportunity to increase revenues through natural tenant turnover and disciplined asset management.
The property’s balanced unit mix, attractive central courtyard, fourteen private garages, and on-site laundry facilities create a highly desirable living environment that supports tenant retention while providing additional income opportunities.
Located in one of Southern California’s strongest rental markets, the property benefits
from Long Beach’s expanding aerospace, healthcare, logistics, and technology sectors, creating long-term demand for quality workforce housing. Combined with strong current returns, modest rental upside, and limited operational risk, Magnolia Avenue represents
an exceptional opportunity for investors seeking both dependable income and future appreciation.
Property Facts
| Price | $9,471,375 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $338,263 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.40 AC |
| Cap Rate | 6.02% | Building Size | 20,424 SF |
| Gross Rent Multiplier | 10.24 | No. Stories | 2 |
| No. Units | 28 | Year Built | 1963 |
| Property Type | Multifamily | Parking Ratio | 1.37/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LBPD10 | ||
| Price | $9,471,375 CAD |
| Price Per Unit | $338,263 CAD |
| Sale Type | Investment |
| Cap Rate | 6.02% |
| Gross Rent Multiplier | 10.24 |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 20,424 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.37/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LBPD10 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Security System
- Online Services
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 14 | - | 500 - 659 |
| 2+1 | 14 | - | 650 |
1 1
Moderately walkable
70/100
Very drivable
80/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,222,014 CAD | |
| Land Assessment | $5,031,639 CAD | Total Assessment | $7,253,654 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$5,031,639 CAD
Improvements Assessment
$2,222,014 CAD
Total Assessment
$7,253,654 CAD
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Magnolia Apartments | 1153-1161 Magnolia Ave
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