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1126 Magnolia Ave

Los Angeles, CA 90006
  • $2,695,000
  • STATUS: Active Under Contract
  • ON SITE: 174 Days
  • MLS #: 21-722438
Under Contract
UPDATED: 24 min ago
$2,695,000
  • 16
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 6,370
    SQFT
  • $423
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
2021
County:
Area:

School Ratings & Info

Description

OPPORTUNITY ZONE | 2021 CONSTRUCTION 4-PLEX | NO RENT CONTROL**** Take advantage of OZ tax benefits if you close prior of COFO issued. This fabulous ground up, modern fourplex with its designer look and feel is ideally located in Mid-Wilshire / Koreatown, an extremely high demand rental market. 1126-1128 12 Magnolia Ave is made up of four side-by-side townhome style units. All units are 2 story, with spacious floorplans. The property consists of 2 X 4-bedroom 3-Bathunits of 1500 SQFT each and 2 X 4-Bedroom 4 1/2 Bath units of 1700 SQFT each. Each unit comes with 1 private car garages and 1 uncovered parking. All units are equipped with stainless steel appliance package, Refrigerator /Dishwasher / Gas Stove / Range Hood and Washer Dryer!! All units are separately metered for electric / gas and water ! Prime location, no rent control, 1 year builders warranty! This amazing investment opportunity offers a realistic CAP rate of 5.50% or higher. Estimated Certification of Occupancy May/ 2021.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-15T18:43:19.853. 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.jelmbergteam.com/homes/116435285
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1126 Magnolia Ave Los Angeles, CA 90006

  • Price: $2,695,000
  • Status: Active Under Contract
  • Updated: 24 min ago
  • MLS #: 21-722438
16
Beds
0
Baths
0
½ Baths
0.16
Acres
6,370
SQFT
$423
$/SQFT
2021
Built
Neighborhood:
Mid-Wilshire
County:
Los Angeles
Area:
Mid-Wilshire
Property Description
OPPORTUNITY ZONE | 2021 CONSTRUCTION 4-PLEX | NO RENT CONTROL**** Take advantage of OZ tax benefits if you close prior of COFO issued. This fabulous ground up, modern fourplex with its designer look and feel is ideally located in Mid-Wilshire / Koreatown, an extremely high demand rental market. 1126-1128 12 Magnolia Ave is made up of four side-by-side townhome style units. All units are 2 story, with spacious floorplans. The property consists of 2 X 4-bedroom 3-Bathunits of 1500 SQFT each and 2 X 4-Bedroom 4 1/2 Bath units of 1700 SQFT each. Each unit comes with 1 private car garages and 1 uncovered parking. All units are equipped with stainless steel appliance package, Refrigerator /Dishwasher / Gas Stove / Range Hood and Washer Dryer!! All units are separately metered for electric / gas and water ! Prime location, no rent control, 1 year builders warranty! This amazing investment opportunity offers a realistic CAP rate of 5.50% or higher. Estimated Certification of Occupancy May/ 2021.
Exterior Features

Entry Location Ground Level W/Steps Exterior Construction Stucco Levels Multi/Split Lot Size Area 7000 Other Structures None Parking Garage UncoveredAttachedDoor OpenerGarage - 4+ Car Patio Features Balcony Pool Description None Pool YN No Roof Flat Spa None Spa YN No Style Modern Tennis Court None Tennis YN No Total Parking 8

Interior Features

Bathroom Features Powder RoomTileShower And Tub Baths Total 16.00 Bedroom Features Master Bedroom Common Walls Attached Cooking Appliances GasOven-Gas Cooling Central Den No Dining Room No Equipment Gas Dryer HookupWasherDryerDishwasherRefrigeratorMicrowaveGarbage DisposalRange/Oven Family Room Yes Fireplace Rooms None Flooring Laminate Foundation Details Raised Heating Central Interior Features Storage SpaceDrywall Walls Kitchen Features Counter TopIsland Laundry In Unit Rooms Dining AreaFamily RoomWalk-In ClosetMaster Bedroom Water Heater Features Tankless Windows Double Pane Windows

Property Features

Assessed Total Value 2750000 Gross Income 186960 Gross Operating Income 186960 Like Units1 2 Like Units2 2 Net Operating Income 149320.00 Number Of Buildings 2 Number Of Units 4 Owner Pays Gardener Property Condition New Construction Rent Control YN No Sale Type Standard Security Features Carbon Monoxide Detector(S)Exterior Security LightsFire And Smoke Detection SystemFire SprinklersGatedSmoke Detector Sewer In Street Source Living Area Builder Source Lot Size Area Plans Source Lot Size Dimensions Assessor Tenant Pays Cable TvElectricityGasWaterTrash Collection Total Annual Expense 37640 Type Of Units Townhome Water Water District Water Heaters YN Yes Year Built Source Builder Zoning Lar3

Listing provided courtesy of Kevin Danialifar DRE#01904911 of Keller Williams Beverly Hills.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-15T18:43:19.853. 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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The Jelmberg Team | Keller Williams
39-575 Washington Street, Suite #105
Palm Desert CA, 92211