- N/A BR
- 0 BA
- N/A SqFt.
- 7,006 Lot
- $2,800,000
- Closed
- 6/27/24
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.
* Combined DOM (CDOM) counts the total days on market for each time a property is listed, and continues counting until the property is Canceled/Expired for 90 days, no matter which agent or broker lists the property. This figure presents a truer picture of time on market because agents sometimes "re-list" a property after it has been on the market a while to try to “refresh” the Days on Market count, or sellers may change agents when a property has failed to sell.
1034 Magnolia Avenue, Gardena, (MLS® #PW23096325)
Date | Details | Price | Change |
---|---|---|---|
Closed (from Active) | – | – | |
Price Reduced (from $4,450,000) | $4,300,000 | $150,000 (3.37%) | |
First Day Active | $4,450,000 | – |
Quick Summary of 1034 Magnolia Avenue: This home in Gardena is priced at $4,300,000 . The Mixed Use residence was originally built in 1961 and was listed on June 2nd, 2023 at $4,450,000, showing 41 Days on Market currently. Contact Dave Fratello today for more information or to go see 1034 Magnolia Avenue.
Based on information from California Regional Multiple Listing Service, Inc. as of August 14th, 2024 at 5:25am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.