1034 Magnolia Avenue
Gardena, CA 90247
0.40 acres | #PW23096325
Description
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.
Location
Legal
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Last Updated:Â . Source: CRMLS
Listing Courtesy
Listing Agent: Shane Young (#PWYOUNSHA)
Listing Office: Younglewin Advisors, Inc. (#PB20845)
Listing Courtesy (Buyer)
Buyer's Agent: Matthew Mahowald (#sbmahomat)
