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1218 Magnolia Ave
Los Angeles, CA 90006
Nomads Hostel · Hospitality Property For Sale
·
3,572 SF
Property Facts
| Property Type | Hospitality | Construction Status | Demolished |
| Property Subtype | Hotel | Building Size | 3,572 SF |
| Building Class | B | No. Stories | 2 |
| Lot Size | 0.15 AC | Year Built/Renovated | 1905/2018 |
| Zoning | LR3 | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.15 AC |
| Construction Status | Demolished |
| Building Size | 3,572 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1905/2018 |
| Zoning | LR3 |
About 1218 MAGNOLIA AVE , LOS ANGELES, CA 90006
The Nomads is a brand-new self-check-in hostel located at the border of Downtown Los Angeles & Koreatown. The property has great frontage with approximately 46.25 Feet along Magnolia and has a depth of about 140 Feet. The offering consists of a newly remodeled 3,572 SF 12 bedroom / 9 bathroom single family residence on a 6,475 SF R3 zoned lot. Out of the 12 bedrooms, 10 bedrooms are being used as rentals and contain 37 beds. The remaining bedrooms are used for storage and onsite staff quarters. The property has approximately 6 gated on-site parking spaces in the rear accessible thru the alley in addition to ample street parking. This offering will attract an investor looking to take over the operation of a newly remodeled 12 bedroom Hostel or a developer looking for R3 zoned residential land in an infill location. The subject property is located on the east side of Magnolia Ave. between 12th St. & Pico Blvd. It is conveniently located less than a mile from the 110 freeway and the 10 freeway. The property has excellent accessibility to public transportation; just 1/2 a block from the Pico/Magnolia Bus Stop, 3 blocks from the Hoover/12th St Bus Stop, and about a mile from the Westlake/MacArthur Metro Purple & Metro Red line station. Koreatown is one of Los Angeles's most densely populated districts comprised of clusters of single-family residences and multi-family units.
Property Taxes
| Parcel Number | 5076-016-002 | Improvements Assessment | $204,510 |
| Land Assessment | $818,045 | Total Assessment | $1,022,555 |
Property Taxes
