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    1251 Magnolia Ave

    Los Angeles, CA 90006
    • $50,960,000
    • STATUS: Active
    • ON SITE: 34 days
    • ID#: 21-754908
    UPDATED: 111 min ago
    $50,960,000
    • 232
      BEDS
    • 0.32
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 127,930
      SQFT
    • $398
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1964
    County:

    School Ratings & Info

    Description

    This portfolio offering includes 10 properties totaling 186+1 units. 15 Studios, 118 one beds, 48 two beds, 6 three beds. There are 12 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 +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 Los Angeles and gives an investor diversification amongst 12 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) / 5442 Virginia Ave. (5536-010-008) / 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)

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-08-03T23:42:33.353. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.theparsonsrealestateteam.com/homes/118874850
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    1251 Magnolia Ave Los Angeles, CA 90006

    • Price: $50,960,000
    • Status: Active
    • Updated: 111 min ago
    • ID#: 21-754908
    232
    Beds
    0
    Baths
    0
    ½ Baths
    0.32
    Acres
    127,930
    SQFT
    $398
    $/SQFT
    1964
    Built
    Neighborhood:
    Mid Los Angeles
    County:
    Los Angeles
    Area:
    Mid Los Angeles
    Property Description
    This portfolio offering includes 10 properties totaling 186+1 units. 15 Studios, 118 one beds, 48 two beds, 6 three beds. There are 12 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 +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 Los Angeles and gives an investor diversification amongst 12 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) / 5442 Virginia Ave. (5536-010-008) / 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)
    Exterior Features

    Direction Faces East Levels Three Or More Lot Size Area 128008 Other Structures None Parking Garage SubterraneanCovered ParkingGatedGated UndergroundGarage - 2 CarUncoveredSubterr Side By SideAbove Street LevelDrivewaySide By SideTandem Style Other Total Parking 180 View Description None View YN No Water Frontage None

    Interior Features

    Baths Total 217.00 Common Walls Attached Cooling Other Equipment RefrigeratorRange/OvenWasherDryer Heating Other

    Property Features

    Assessed Total Value 4655250 Gross Income 3332939 Gross Operating Income 3232951 Like Units1 186 Net Operating Income 1869444.00 Number Of Buildings 1 Number Of Units 187 Sale Type Standard Source Living Area Other Source Lot Size Area Other Total Annual Expense 1363514 Type Of Units Stu123 Year Built Source Vendor Enhanced Zoning Lar3

    Listing provided courtesy of David Kaufman DRE#01217537 of David Ballin Kaufman.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-08-03T23:42:33.353. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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