UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 10,900 sqft
Price per Sqft $293
MLS Listing ID SB-26197731
Style Spanish
Year Built 1930
Lot Size 8,737 Sqft
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
Property Description
features an efficient all one-bedroom unit mix, five garages, on-site laundry, and additional upside
through modest rent growth and potential garage-area ADUs.
At the asking price, 1211 Magnolia is offered at approximately $294 per square foot while generating a 6.80% current capitalization rate
and a 7.74% pro forma capitalization rate. The investment thesis is straightforward: acquire a well-
renovated asset at a discounted basis, capture a near-7% day-one yield, and retain additional upside through rent normalization and potential future ADU development.
The property offers investors a true ease-of-management opportunity. Current ownership
extensively renovated the building with the intention of holding it for the long term, completing
comprehensive upgrades while preserving its original 1930s Spanish-style character. The
rehabilitation was executed with that character in mind, including restoration of original oak
flooring and installation of mission-style lighting, alongside fully remodeled interiors, replacement
windows, upgraded electrical meters, plumbing and HVAC systems. Renovation decisions prioritized
quality, durability and longevity.
With the renovated units leased at market rents, a new owner benefits from immediate stabilized
income without the execution risk, downtime or capital requirements typically associated with a
value-add renovation program. Importantly, the pro forma rents can be achieved through annual
rent increases alone, with no further capital expenditure required.
1211 Magnolia Avenue is situated in Long Beach's Willmore neighborhood, just minutes from
Downtown Long Beach, its waterfront amenities and the 710 Freeway.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Fireplaces Type None
Laundry Community, Individual Room
Exterior
Parking Features Garage Faces Rear
Garage Spaces 5.0
Pool None
Community Features Urban
Utilities Available Sewer Connected, Water Connected, Electricity Connected, Natural Gas Connected
View Y/N Yes
View City Lights
Building
Lot Description Rectangular Lot
Sewer Public Sewer
Nearby Locations
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John R Thompson
Broker/Owner License ID: 01200900
Broker/Owner License ID: 01200900