1034 Magnolia Avenue, Gardena, CA 90247
Property
Sold August 2023
Listing Agent: Shane Young (DRE #01963090) · Listing Office: Younglewin Advisors, Inc. · Contact: 562-318-0215 · Bought with: Matthew Mahowald · Buckingham Investments, Inc · MLS #PW23096325 · Source: CRMLS
About this property
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.
Listing description from the August 2023 sale, as reported to CRMLS.
Sale history