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1237 Magnolia Avenue

Los Angeles (City), CA 90006
  • $2,650,000
  • STATUS: Active
  • ON SITE: 141 Days
  • ID#: 21761430
UPDATED: 29 min ago
$2,650,000
  • 0
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1965
County:

School Ratings & Info

Listing Agent: David Kaufman of David Ballin Kaufman


Description

1237 Magnolia is a beautifully maintained two-story dingbat apartment building built in 1965. Just 2 doors down from 1251 Magnolia, this beauty provides solid income and nice upside. There is a current vendor agreement in place for seismic retrofitting that can be assigned to new buyer. A 10%deposit has been paid toward the cost of the work leaving a balance of $76,500. This property is part of a 10-property portfolio totaling 186 units. Most of the properties are in the 90029 & 90006 zip codes of Los Angeles, CA. These well-located properties offer convenient access to Downtown Los Angeles & Mid-Wilshire and can be managed efficiently due to their proximity to one another. The properties are well maintained and have had many exterior and interior improvements. There is still +28% upside to be realized as units turn and the opportunity to construct two additional units already permitted at 1006 Mariposa. This infill multifamily portfolio is in an improving submarket in LA and gives an investor diversification amongst 12 different APNs and proven upside through continued unit turns.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-04T17:27:24.207. 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 | Sentry Residential. Licensed in the State of California, USA.
www.themarellygroup.com/homes/119359916
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1237 Magnolia Avenue Los Angeles (City), CA 90006

  • Price: $2,650,000
  • Status: Active
  • On Site: 141 Days
  • Updated: 29 min ago
  • ID#: 21761430
0
Beds
0
Baths
0
½ Baths
0.16
Acres
1965
Built
Neighborhood:
C17 - Mid-Wilshire
County:
Los Angeles
Area:
C17 - Mid-Wilshire
Property Description
1237 Magnolia is a beautifully maintained two-story dingbat apartment building built in 1965. Just 2 doors down from 1251 Magnolia, this beauty provides solid income and nice upside. There is a current vendor agreement in place for seismic retrofitting that can be assigned to new buyer. A 10%deposit has been paid toward the cost of the work leaving a balance of $76,500. This property is part of a 10-property portfolio totaling 186 units. Most of the properties are in the 90029 & 90006 zip codes of Los Angeles, CA. These well-located properties offer convenient access to Downtown Los Angeles & Mid-Wilshire and can be managed efficiently due to their proximity to one another. The properties are well maintained and have had many exterior and interior improvements. There is still +28% upside to be realized as units turn and the opportunity to construct two additional units already permitted at 1006 Mariposa. This infill multifamily portfolio is in an improving submarket in LA and gives an investor diversification amongst 12 different APNs and proven upside through continued unit turns.
Exterior Features

Parking Features Uncovered

Property Features

Gross Income 174150 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 93888 Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0 Zoning Lar3



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-04T17:27:24.207. 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 | Sentry Residential. Licensed in the State of California, USA.
 
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The Marelly Group | Sentry Residential
5256 South Mission Rd, Suite 1006
Bonsall CA, 92003
Listing Agent: David Kaufman of David Ballin Kaufman