This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
1277 W 23rd St
Los Angeles, CA 90007
The Magnolia Apartments · Multifamily Property For Sale
·
6 Units
PROPERTY FACTS
| No. Units | 6 | Building Size | 4,370 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1964/2018 |
| Building Class | C | Parking Ratio | 1.37/1,000 SF |
| Lot Size | 0.13 AC | ||
| Zoning | RD2-1-HPOZ | ||
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 4,370 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1964/2018 |
| Parking Ratio | 1.37/1,000 SF |
| Zoning | RD2-1-HPOZ |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
SITE AMENITIES
- Laundry Facilities
ABOUT 1277 W 23RD ST , LOS ANGELES, CA 90007
$100,000 PRICE REDUCTION The Magnolia is a turn-key USC student housing property. In 2018, five of the six units were taken down to the studs and floor-plans were reconfigured to increase the bedroom count. The interior remodel includes hardwood flooring, recessed lighting, air conditioning, kitchen cabinets with quartz countertops, stainless steel appliances, showers with designer tile, European-style vanities, and, anodized bronze aluminum windows. The building has all new copper plumbing, ABS drain lines, and a new main electrical panel. Located within the monitored USC DPS (Department of Public Safety) patrol zone, The Magnolia offers a going-in cap rate of 5.57%, allowing a buyer to achieve very high leverage, possibly up to 75% loan-to-value. The property has a pro-forma cap rate of 6.72%.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 3 | $2,200 | 550 |
| 3+2 | 3 | $3,150 | 800 |
PROPERTY TAXES
| Parcel Number | 5055-019-013 | Improvements Assessment | $699,986 |
| Land Assessment | $1,673,277 | Total Assessment | $2,373,263 |
PROPERTY TAXES
