1933 Magnolia Ave #7, Los Angeles, CA 90007

Presenting an 8,530 SF redevelopment opportunity at 1933 Magnolia Ave that is currently zoned RD 1.5 in a Tier 2 TOC; the property is located 300 ft south of W Washington Blvd adjacent to Downtown Los Angeles and situated just off the I-10 and I-110. The subject property is a lot with an 828 SFR and a detached 2 car garage with no tenant relocation required, and the ability to build 5 units by right and up to 10 units by employing TOC benefits. At the asking price, the property is offered at a low price per SF of $129. The subject property has a central location within high growth neighborhoods, an easy commute to DTLA, Los Angeles Convention Center, University of Southern California, Crypto.com Arena, L.A. Live, Banc of California Stadium, and walking distance to numerous Metro rail and bus line stops. SB-8 Clearance: The sellers used to occupy the property, but also rented and professionally managed it within the last 4 years. The former tenants had strong sources of income and were paying market rents. There have been no-evictions at this property. All the previous tenants have left due to voluntary reasons, and the management company possesses formal records of rental history.