Address
1237 Magnolia Avenue Los Angeles, CA
Price
$ 2,650,000
Property Attributes
  • MLS#21761430
  • TypeIncome
  • CountyLOS ANGELES
  • CityLos Angeles
  • AreaMid-Wilshire
  • Zip90006
  • Style
  • Price$ 2,650,000
  • Bedrooms15
  • Full Bathrooms9
  • Half Bathrooms0
  • Sqr Footage6800
  • Lot Size7,001 SqFt
Listing Provided Courtesy Of:
David Kaufman with David Ballin Kaufman - 310-877-8600
Data Source:
California Regional MLS (CRMLS) - 25 - CA
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.

Price History
7/17/2021 Listed $2,650,000

General Features

Listing Agent David Kaufman - BRE#01217537
Listing Agent State License 01217537
Lot Size Square Feet 7001
MLS Area C17 - Mid-Wilshire
Property Type Residential Income
Senior Community Y/N No
Special Listing Conditions Standard
Status Active
Total Units 9
Zoning LAR3

Exterior Features

Lot Size Acres 0.16
Lot Size Area 7001
Lot Size Units Square Feet
Number of Buildings 1
Parking Features Uncovered

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 90006

Price
AVG $3.63M
$2.65M
Visits
AVG 49
10
Year Built
AVG 1935
1965
Walkscore
AVG 91
91
Data Provided by Walkscore ® not using MLS data

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