Gardena, CA 90247,1034 Magnolia AVE
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Gardena, CA 90247,1034 Magnolia AVE
Gardena, CA 90247,1034 Magnolia AVE
Gardena, CA 90247,1034 Magnolia AVE
Gardena, CA 90247,1034 Magnolia AVE

$4,300,000

Est. payment /mo

$4,300,000

Est.Price: ?

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1034 Magnolia AVE Gardena, CA 90247

0.4 Acres Lot

SOLD DATE : 08/18/2023

Key Details

Sold Price $4,300,000

Property Type Commercial

Listing Status Sold

Purchase Type For Sale

MLS Listing ID CRPW23096325

Sold Date 08/18/23

Originating Board California Regional MLS

Year Built 1961

Lot Size 0.398 Acres

Property Description

We are pleased to present the Santorini Apartments, a 16 unit apartment community located in Gardena CA. The 16 large units consist of thirteen 2 bed 1 bath units, two studios, and one 1 bed 1 bath unit, 1034 Magnolia Ave has an ideal unit mix. The subject property has 100% copper plumbing, vinyl windows, newer roof, and ownership has filled the pool to create additional parking spaces for the tenants. There are a total of 25 parking spaces, and the property is secured by controlled access and has operational security cameras on site. Additional cash flow is produced by the seller-owned laundry facility, as well as ample on-site parking options. The Santorini Apartments are priced at an attractive cap rate of 5.32% and 12.11 GRM, with significant upside in rents to a 7.45% cap rate, and 9.42 GRM. In addition to having strong cash flow and attractive upside, 1034 Magnolia has been extremely well maintained, and is a unique opportunity for a savvy investor.

Location

State CA

County Los Angeles

Area 119 - Central Gardena

Interior

Laundry Laundry Area

Exterior

Garage Spaces 25.0

Pool None

Building

Water District - Public

Others

Tax ID 6113030017

Special Listing Condition Not Applicable

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MLS Listing IDX PLUS
Listed by Shane Young • Younglewin Advisors, Inc.
Bought with Matthew Mahowald • Buckingham Investments, Inc
agent

Luis Vasquez

Agent | License ID: 02083319

+1(650) 200-8722

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