Address
1251 Magnolia Avenue Los Angeles, CA
Price
$ 50,960,000
Property Attributes
  • MLS#21754908
  • TypeIncome
  • CountyLOS ANGELES
  • CityLos Angeles
  • AreaMid Los Angeles
  • Zip90006
  • Style
  • Price$ 50,960,000
  • Bedrooms186
  • Full Bathrooms186
  • Half Bathrooms0
  • Sqr Footage127930
  • Lot Size2.94 Acres
Listing Provided Courtesy Of:
David Kaufman with David Ballin Kaufman - 310-877-8600
Data Source:
California Regional MLS (CRMLS)
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)

Price History
7/1/2021 Listed $50,960,000

General Features

Appliances Refrigerator
Architectural Style Other
Facing Direction East
Garage Y/N Yes
Levels Three Or More
Listing Agent David Kaufman - BRE#01217537
Listing Agent State License 01217537
Lot Size Square Feet 128008
MLS Area C16 - Mid Los Angeles
Property Type Residential Income
Senior Community Y/N No
Special Listing Conditions Standard
Status Active
Total Units 187
View None
Zoning LAR3

Exterior Features

Lot Size Acres 0.32
Lot Size Area 128008
Lot Size Source Other
Lot Size Units Square Feet
Number of Buildings 1
Parking Features Covered, Door-Multi, Driveway Down Slope From Street, Driveway, Underground, Garage, Gated, Side By Side, Tandem, 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 $4.01M
$50.96M
Visits
AVG 30
223
Year Built
AVG 1936
1964
Walkscore
AVG 91
91
Data Provided by Walkscore ® not using MLS data