Est. cap rate

3.5%

Assumed rent, all units

$5,020/mo

Units

2

Price per unit

$430,000

Est. annual NOI

$30,120

Expense assumption

50%

Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.

Run your own numbers

Adjust the assumptions to see cash flow and cash on cash return.

Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.

Property details

Type

Duplex

Bedrooms

4

Bathrooms

2

Building size

1,296 sqft

Lot size

4,303 sqft

Year built

2003

Stories

1

Garage spaces

4

Heating

Electric,Combination,Ductless

Cooling

Dual,Ductless,High Efficiency

Pool

None

View

None

Status

Active

Days on market

399

MLS #

232191884

About this property

Make a smart move with this turnkey Duplex in the up-and-coming Wilmore district of Long Beach. Live in one unit and rent out the other to cut your mortgage payment in half and reap the benefits of becoming a new landlord or add an impressive R-4 property to your existing portfolio. Each unit comes with a two-car garage, as well as a tandem parking space off the alley. There are numerous upgrades, including a new roof, complete exterior stucco, dual-pane windows, keyless entry doors, two water heaters, fresh landscaping with a 6-foot white vinyl fence, exterior and interior painting, and three TCL brand mini-split systems per unit. Inside, you’ll enjoy vaulted ceilings, SPC oak floors by Republic, baseboards, modern chandeliers, and wall sconces. The back unit features high-end stainless-steel appliances and includes a washer and dryer, as well as a wall-mounted television. The kitchens boast Knotty Alderwood cabinetry, high-end Acacia butcher block counters, a 3D tile backsplash, a stainless-steel sink, dishwasher, microwave, and recessed lighting. Finally, the bathroom is outfitted with beautiful veinous Carrera marble and a floating vanity featuring an LED mirror with a built-in defogger. It makes sense to buy two completely renovated units, with the potential to add more, rather than being stuck with just one, as a home should always be considered an investment that holds the key to your future.

Location

1238 Magnolia Avenue

Long Beach, Los Angeles, CA, 90813