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$50,960,000
1251 Magnolia Ave, Los Angeles, CA 90006
1 Beds
1 Baths
127,930 sqft

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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)
  • Price:
  • $50,960,000
  • Bedrooms:
  • 1
  • Square Footage:
  • 127,930
  • Acreage:
  • 0.32
  • Year Built:
  • 1964
  • Listing ID #:
  • 21754908
  • Street Address:
  • 1251 Magnolia Ave
  • City:
  • Los Angeles
  • State:
  • California
  • Postal Code:
  • 90006
  • County:
  • Los Angeles
  • Community:
  • Mid Los Angeles
  • Listing Status:
  • Active
  • Listing Type:
  • Residential Income
  • Building Faces:
  • East
  • Number Of Floors In Unit:
  • Three Or More
  • Number Of Units:
  • 187
  • Stories:
  • 3
  • Total # Of Buildings:
  • 1
  • Total Building Square Footage:
  • 127930
  • Year Built:
  • 1964
  • Gross Income:
  • 3332939
  • Net Operating Income:
  • 1869444
  • Conforms To Zoning:
  • Lar3
  • Lot Size:
  • 128008
  • Lot Square Footage:
  • 128008
  • Days On Market:
  • 153
  • On Market Date:
  • 2021-06-30
  • Originating Mls:
  • Crmls
  • Has Garage:
  • Yes
  • Parking Description:
  • Covered, Door-Multi, Driveway Down Slope From Street, Driveway, Underground, Garage, Gated, Side By Side, Tandem, Uncovered
  • Appliances:
  • Refrigerator
  • Unit 13 Monthly Rent:
  • 1493
  • Unit 13 Total Bathrooms:
  • 1
  • Unit 13 Total Bedrooms:
  • 1
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo

Source: CINC

  • Listing Provided By David Kaufman of David Ballin Kaufman
  • CACRMLS

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