1201 Magnolia Avenue

    Los Angeles (City), CA 90006
    • $4,650,000
    • STATUS: Active
    • ON SITE: 36 days
    • ID#: 20556394
    UPDATED: 76 min ago
    $4,650,000
    • 0
      BEDS
    • 0.29
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1970
    County:

    School Ratings & Info

    Description

    We are pleased to exclusively present this three-story garden-style walk-up apartment building, located in the City of Los Angeles. The Pico/Union submarket is on the rise and offers easy access to Koreatown and DTLA.Originally built in 1971, this complex features both front and rear staircases connected by mostly exterior walkways. There is no elevator. The semi subterranean parking garage is gated with remote access. There are 21 single spaces. The building has gated entry with an intercom system. The laundry room has 2 washers and 2 dryers leased from Wash. The building has a built-up composition roof. There is a boiler and hot water heater located in a room next to the building's storage room on the roof.The units are master metered for gas and separately metered for electric. Gas wall heaters, galley kitchens with dual sinks, gas stovetop / ovens and laminate plank flooring. Clean, but mostly original. Value-add opportunity.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-03-29T19:27:47.297. 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 deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Compass. Licensed in the State of California, USA.

    www.themarellygroup.com/homes/103438754

    1201 Magnolia Avenue Los Angeles (City), CA 90006

    • Price: $4,650,000
    • Status: Active
    • Updated: 76 min ago
    • ID#: 20556394
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.29
    Acres
    1970
    Built
    Neighborhood:
    C17 - Mid-Wilshire
    County:
    Los Angeles
    Area:
    C17 - Mid-Wilshire
    Property Description
    We are pleased to exclusively present this three-story garden-style walk-up apartment building, located in the City of Los Angeles. The Pico/Union submarket is on the rise and offers easy access to Koreatown and DTLA.Originally built in 1971, this complex features both front and rear staircases connected by mostly exterior walkways. There is no elevator. The semi subterranean parking garage is gated with remote access. There are 21 single spaces. The building has gated entry with an intercom system. The laundry room has 2 washers and 2 dryers leased from Wash. The building has a built-up composition roof. There is a boiler and hot water heater located in a room next to the building's storage room on the roof.The units are master metered for gas and separately metered for electric. Gas wall heaters, galley kitchens with dual sinks, gas stovetop / ovens and laminate plank flooring. Clean, but mostly original. Value-add opportunity.
    Exterior Features

    Lot Size Source Assessor Lot Size Units Square Feet

    Property Features

    Gross Income 353064.00 Gross Multiplier 13.17 Gross Operating Income 344237.00 Net Operating Income 180189.00 Senior Community YN No Special Listing Conditions Standard Zoning Lar3

    Listing provided courtesy of David Kaufman of David Ballin Kaufman


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-03-29T19:27:47.297. 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 deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Compass. Licensed in the State of California, USA.

     
    The Marelly Group | Compass
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    Bonsall CA, 92003