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Magnolia Apartments 329 W Magnolia St 8 Unit Apartment Building $1,650,000 ($206,250/Unit) 6.70% Cap Rate Compton, CA 90220
INVESTMENT HIGHLIGHTS
- The property is well managed by the current ownership and produces a healthy 6.70% cap rate
- Located in close proximity to Downtown Compton, Compton Airport, grocery stores, gyms, and a wide range of employment opportunities
- On-site leasing office provides a more straightforward opportunity for conversion into a revenue-generating unit or storage - buyer to verify
- Provides dedicated parking for every unit, offering convenience and strong tenant appeal
- Offered with a seller financing option, providing buyers with the ability to secure favorable terms for acquiring the asset
- New ownership may add detached Accessory Dwelling Units (ADUs) on excess land, creating additional income –Buyer to verify
EXECUTIVE SUMMARY
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale an 8-unit apartment community located at 329 W Magnolia Street. The property is situated west of Alameda Street and south of Rosecrans Avenue.
Located in Downtown Compton, the asset sits in close proximity to the Compton Courthouse and Compton Airport, providing convenient access to a wide range of employment opportunities. Additionally, 329 W Magnolia Street is near various local retail and dining options, making it a desirable location for tenants.
Situated on a 7,132-square-foot parcel, the property consists of four one-bedroom units and four two-bedroom units. It offers on-site parking for every unit, along with additional space that may allow for potential ADU development (buyer to verify).
329 W Magnolia Street offers investors the opportunity to acquire an asset in a sought-after working-class market of Compton. The continued revitalization of the surrounding area, combined with the property’s value-add potential through interior renovations, positions this asset as an excellent acquisition opportunity.
Located in Downtown Compton, the asset sits in close proximity to the Compton Courthouse and Compton Airport, providing convenient access to a wide range of employment opportunities. Additionally, 329 W Magnolia Street is near various local retail and dining options, making it a desirable location for tenants.
Situated on a 7,132-square-foot parcel, the property consists of four one-bedroom units and four two-bedroom units. It offers on-site parking for every unit, along with additional space that may allow for potential ADU development (buyer to verify).
329 W Magnolia Street offers investors the opportunity to acquire an asset in a sought-after working-class market of Compton. The continued revitalization of the surrounding area, combined with the property’s value-add potential through interior renovations, positions this asset as an excellent acquisition opportunity.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $1,650,000 | Property Subtype | Apartment |
| Price Per Unit | $206,250 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.70% | Lot Size | 0.21 AC |
| Gross Rent Multiplier | 8.87 | Building Size | 7,132 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1929 |
| Zoning | RH, Compton | ||
| Price | $1,650,000 |
| Price Per Unit | $206,250 |
| Sale Type | Investment |
| Cap Rate | 6.70% |
| Gross Rent Multiplier | 8.87 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 7,132 SF |
| No. Stories | 2 |
| Year Built | 1929 |
| Zoning | RH, Compton |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 4 | - | 850 |
1 1
Walk Score®
Very Walkable (85)
PROPERTY TAXES
| Parcel Number | 6157-017-036 | Improvements Assessment | $1,190,674 |
| Land Assessment | $568,276 | Total Assessment | $1,758,950 |
PROPERTY TAXES
Parcel Number
6157-017-036
Land Assessment
$568,276
Improvements Assessment
$1,190,674
Total Assessment
$1,758,950
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Magnolia Apartments | 329 W Magnolia St
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