1251 Magnolia Ave

Los Angeles, CA, 90006

$44,550,000

$364 per ft²
$44,550,000
$364 per ft²
Pending
Pending
 - For Sale
beds
216 Beds
baths
209 Baths
carpenters-square
122,260 ft²
property_type
Multi-family
calendar
Built 1964
This portfolio offering includes 9 properties totaling 178+1 units, Bulk/Portfolio sale only. 15 Studios, 115 one beds, 42 two beds, 6 three beds. There are 11 separate APN#s and multiple contiguous lots. Most of the properties are in the 90029 & 90006 zip codes of Los Angeles, CA. These well-located properties offer convenient access to DTLA & 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 including new roofs and copper plumbing. More than 25% of the units have been beautifully upgraded. There is still +33% upside to be realized as units turn and the opportunity to construct two additional units already permitted at 1006 Mariposa. The seismic retrofitting has been completed, with the exception of two buildings: 1251 Magnolia and 1250 Kingsley, to be assumed and paid for by the buyer. This infill multifamily portfolio is in an improving submarket in Los Angeles and gives an investor diversification amongst 11 different assessor parcels and proven upside through continued unit turns. Subject Properties & APNs: 1006 N. Mariposa Ave. (5538-002-030; -018) / 1018 N. Mariposa Ave. (5538-002-032) / 1015, 1017 & 1021 N. Mariposa Ave. (5538-001-017; -018) / 1250 N Kingsley Dr. (5537-014-031) / 5525-5527 Virginia Ave. (5536-008-016; -017) / 222 Roselake Ave. (5157-018-049) / 1251 Magnolia Ave. (5076-017-024) / 1401 S Catalina St. (5075-006-019) / 1237 Magnolia Ave. (5076-017-017)
MLS® ID:
22-124007
Listed:
3/1/22
Updated:
8/12/22

Interior Features

Total Bedrooms
216
Total Bathrooms
209
Cooling
Other
Heating
Other

Exterior/Building Features

Lot Size
2.77 acres lot
Architectural Style
Other

Other Property Details

Garage
No
Parking
Subterranean, Covered Parking, Gated, Gated Underground, Garage - 2 Car, Uncovered, Subterr Side by Side, Above Street Level, Driveway, Side By Side, Tandem
Parking Total
171.0
View
Y
County
Los Angeles
Pool
No
Total Stories
3
Zoning
LAR3

Property History

Date
Event
Price
Value
3/7/22
Pending
-
-
2/7/22
Price Change
$44,550,000
100%
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