12235 Magnolia Blvd new Save Request In-Person Tour Request Virtual Tour
Valley Village,CA 91607
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 18,805 sqft
Price per Sqft $292
MLS Listing ID 25541295
Bedrooms 15
Year Built 1983
Lot Size 9,354 Sqft
Acres 0.2147
Property Sub-Type Multi-Family
Property Description
We are pleased to offer a 17-unit apartment building, available for the first time since it was built just over 40 years ago. This exceptionally well-maintained asset sits on a double lot and features over 18,800 square feet of space, with mostly spacious 1-bedroom units. The building has been under the continuous ownership and care of the original developer, reflecting true pride of ownership. Importantly, the building carries a Certificate of Occupancy from 1984, meaning it is not subject to the City of Los Angeles Rent Stabilization Ordinance (RSO). This exemption offers investors meaningful flexibility in managing turnover and achieving market rents.Operating at a 5.34% CAP, this property offers a strong return relative to comparable assets in the Los Angeles multifamily market. Rents remain below market levels, providing immediate income along with clear, achievable upside. The large floor plans allow for rent premiums with minimal repositioning.Tenants benefit from 24 on-site parking spaces, easy access to the 101 and 170 freeways, nearby public transportation, and a diverse selection of local restaurants, shopping, nightlife, and more.Under half a mile to the Gelson's at Riverside Dr., or steps to the Jons International Marketplace, this is a building where people rent to stay! For local families and job opportunities, the building sits between LA Valley College and NoHo High School.The property includes additional income through owned-laundry machines and a rooftop cell antenna lease, offering passive revenue without additional management. The combination of non-RSO status, stable tenancy, and physical unit size positions this asset as an ideal long-term hold with both cash flow and future growth potential.With a low price per square foot, strong in-place income, and clear paths to value creation, this is a rare opportunity to acquire a generational-quality asset in turnkey condition.
Location
State CA
County Los Angeles
Area Valley Village
Zoning (Q)R3-1
Rooms
Other Rooms None
Interior
Heating Other
Cooling Other
Equipment Dishwasher, Refrigerator, Microwave, Range/Oven, Freezer
Laundry Community
Exterior
Parking Features Covered Parking, Garage Is Attached, Garage, Private Garage
Garage Spaces 24.0
Building
Story 3
Level or Stories Three Or More
Others
Special Listing Condition Standard