1238 Magnolia Avenue, Long Beach, California 90813, Long Beach, 90813 - 4 bed, 2 bath

1238 Magnolia Avenue, Long Beach, California 90813 home-pic-0
ACTIVE$860,000
1238 Magnolia Avenue, Long Beach, California 90813
4Beds
2Baths
1,296Sqft
4,303Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Investment Potential: Duplex configuration allows for owner-occupancy with rental income or full rental investment, enhanced by R-4 zoning for potential future expansion.
Top Cons:
Recent Price Reductions: Multiple price drops from the initial listing suggest potential market resistance or an initial overvaluation, which may impact buyer perception.

Compared to the nearby listings

Price:$860.0K vs avg $850.0K (+$10,000)62%
Size:1,296 sqft vs avg 2,248 sqft15%
Price/sqft:$664 vs avg $34992%

More Insights

Built in 2003 (22 years old).
Condition: Despite being built in 2003, this duplex has undergone an extensive, recent, and high-quality renovation, making it essentially a new property. The description highlights 'numerous upgrades' including a new roof, stucco, dual-pane windows, water heaters, and fresh landscaping. Interiors feature new SPC oak floors, modern lighting, and fresh paint. The kitchens boast Knotty Alderwood cabinetry, high-end Acacia butcher block counters, 3D tile backsplash, and stainless-steel appliances. Bathrooms are outfitted with beautiful Carrera marble, floating vanities, and LED mirrors. Each unit has modern mini-split HVAC systems. All components appear new or virtually new, meeting current quality standards with no deferred maintenance, aligning perfectly with the 'Excellent' criteria for a property extensively renovated within the last 5 years.
Year Built
2003
Close
-
List price
$860K
Original List price
$875K
Price/Sqft
$664
HOA
-
Days on market
-
Sold On
-
MLS number
DW25177849
Home ConditionExcellent
Features
View-

About this home

Make a smart move with this snazzy, 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.

Price History

Date
Event
Price
04/24/24
Sold
$540,000
Condition Rating
Excellent

Despite being built in 2003, this duplex has undergone an extensive, recent, and high-quality renovation, making it essentially a new property. The description highlights 'numerous upgrades' including a new roof, stucco, dual-pane windows, water heaters, and fresh landscaping. Interiors feature new SPC oak floors, modern lighting, and fresh paint. The kitchens boast Knotty Alderwood cabinetry, high-end Acacia butcher block counters, 3D tile backsplash, and stainless-steel appliances. Bathrooms are outfitted with beautiful Carrera marble, floating vanities, and LED mirrors. Each unit has modern mini-split HVAC systems. All components appear new or virtually new, meeting current quality standards with no deferred maintenance, aligning perfectly with the 'Excellent' criteria for a property extensively renovated within the last 5 years.
Pros & Cons

Pros

Investment Potential: Duplex configuration allows for owner-occupancy with rental income or full rental investment, enhanced by R-4 zoning for potential future expansion.
Extensive Turnkey Renovations: Recently updated with a new roof, exterior stucco, dual-pane windows, fresh paint, landscaping, and new water heaters, minimizing immediate capital expenditures for a buyer.
Modern & High-End Interiors: Features include vaulted ceilings, SPC oak floors, modern lighting, upgraded kitchens with Knotty Alderwood cabinetry and Acacia butcher block counters, and luxurious Carrera marble bathrooms.
Individual Climate Control: Each unit is equipped with three TCL brand mini-split systems, providing efficient and personalized heating and cooling.
Ample Off-Street Parking: Each unit benefits from a dedicated two-car garage plus an additional tandem parking space, a significant advantage in urban settings.

Cons

Recent Price Reductions: Multiple price drops from the initial listing suggest potential market resistance or an initial overvaluation, which may impact buyer perception.
Compact Unit & Lot Size: The total 1296 sqft for two units (approx. 648 sqft each) and a 4303 sqft lot are relatively small, potentially limiting living space and outdoor utility, despite the R-4 zoning.
Undefined MLS Area & No Specific View: The MLS area is listed as 'Not Defined,' and there is no specific view, which could be a minor detractor for some buyers seeking established neighborhood data or scenic attributes.

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