2624 Magnolia Ave - Apartments FOR SALE


Los Angeles, CA 90007- West Adams
$3,800,000 USD
323-422-2244
2624 Magnolia Ave, Los Angeles, CA for Sale
$3,800,000 USD
Apartments - FOR SALE
1/33
null | 4.75% Cap Rate

2624 Magnolia Ave
Los Angeles, CA 90007
West Adams


HIGHLIGHTS

  • Prime Area for Student Housing- Already Rented for next school year
  • Remodeled with newer kitchens, bathrooms, electrical, plumbing, HVAC
  • Potential to Add ADU

OVERVIEW

This beautifully restored Victorian 4-plex is located in the heart of North University Park and is in a prime area for USC student housing. Nestled on a picturesque, tree-lined street blocks from the University of Southern California, the property offers the perfect blend of classic charm and modern updates. Recently remodeled inside and out, each of the four spacious units features a contemporary kitchen with new stainless steel appliances, updated bathrooms, an in-unit washer and dryer, and central air and heat. The property is fully tenant-occupied, with leases in place through the 2025-2026 academic year, providing immediate and consistent rental income. Tenants are responsible for all utilities, including water, gas, electricity, and trash, further enhancing the property's strong operating fundamentals. over 49,000 students enrolled at USC, including nearly 21,000 undergraduates, the need for quality housing close to campus remains steady year after year. The location is just minutes away from DTLA and all the restaurants and shops of West Adams. This is a rare investment opportunity to own a fully leased, high-yield property steps from USC, surrounded by beautiful historic homes and vibrant city living.

FOR SALE DETAILS

PRICE

$3,800,000 USD

PRICE/SF

$921 USD /SF

# OF UNITS

4

PRICE/UNIT

$950,000

CAP RATE

4.75%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Magnolia

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1914

PARKING SPACES

4

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

LARD 1.5

APN/PARCEL ID

5055-025-003

ASK ABOUT THIS PROPERTY

Christopher FurstenbergNourmand & Associates RealtorsMore Info
323-422-2244

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Christopher FurstenbergNourmand & Associates RealtorsMore Info
323-422-2244

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.