1950 Magnolia Ave , Long Beach, CA 90806
$949,000
Est. Payment: $4,775.22/mo
3 Bed
1 Bath
2016 Sqft
Status: pending | Days on site: 124
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VCR-C15903466 - VCR-C159091383,VCR-C159052275

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House Description

The Best Priced Duplex in Long Beach. 2 units in Long Beach NOT subject to local rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7%). Located by the Wrigley Area a short drive from Down Town where over $8BB of redevelopment is occurring. On a beautiful, quiet, tree lined street. Excellent Owner User opportunity as well - live in one unit and offset your mortgage with the rent from the other. The property features two 3 bed/1 bath units with a private courtyard and a 3 car garage in the rear (separate structure). Both units are currently rented ($2900 and $3200). The remodeled unit will be delivered vacant (current tenants are moving out at the end of July). The garages are rented for an additonal $300/month. One of the units has been heavily updated. There is the potential to convert the garages to an ADU - Buyer to verify. This could add a 3rd unit and generate significant rental income. The property is well maintained and has been updated as follows: All new Pex water supply lines in both units - done in 2022. All new ABS drain/sewer lines in both units - done in 2022. All new gas lines in Unit 1950 - done in 2022. Completely remodeled Unit 1950 - new flooring, paint, fixtures, countertops, vanity, tub, tile, new stove, microwave, dishwasher, fridge, and all new double-pane vinyl windows - done in 2024. A new owner could owner occupy one of the units within a few months of the close of escrow. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. The Long Beach Airport is also undergoing a $37MM remodel in preperation for the 2028 Olympics.

Highlights

Listed by Jonathan Swire , 310-948-2631 The Agency , 424-230-3700. CRMLS/Multi-Regional MLS mls logo

Property Type

Multi-Family

Lot/Acreage
0.1

Year Built

1929

County

Los Angeles

Area

5 - Wrigley Area

Listing ID

26665805

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:3
  • Bathrooms:1
  • Full Bathrooms:0

Exterior Features

Lot:No Land Lease
Garage Capacity:3
Zoning:LBR2N
Others:2+ Total Units,Has ADU
Parking Features:Assigned
Principal Interest
$4,775
Taxes
$605

Home Price

$949,000

Loan Details

30 yrs
6.453%

Down Payment

20%
$189,800
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$4,775.22

Principal

Taxes

Principal Taxes HOA Total
Monthly $4,775.22 $604.99 $0.00 $5,380.21
Yearly $57,302.62 $7,259.85 $0.00 $64,562.47
Total $1,719,078.47 $217,795.50 $0.00 $1,936,873.97

Today's Rates

30 Year

6.45%

20 Year

6.33%

15 Year

5.88%

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Market insight data is pulled from the same city as the listing being viewed (Long Beach, CA).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information from California Regional Multiple Listing Service, Inc. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. All properties are subject to prior sale, change or withdrawal.

IDX service by Blueroof 360

Data last updated: 2026-08-09T06:37:48.000Z

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