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12235 Magnolia BLVD Valley Village, CA 91607
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Key Details
Sold Price $5,140,000
Property Type Single Family Home
Listing Status Sold
Purchase Type For Sale
Square Footage 18,805 sqft
Price per Sqft $273
MLS Listing ID 25541295
Bedrooms 15
Year Built 1983
Lot Size 9,352 Sqft
Property Description
PRICE REDUCED! 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 5.60% 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 Vvl - Valley Village
Zoning (Q)R3-1
Interior
Laundry Common Area
Exterior
Parking Features Covered, Garage, Private
Garage Spaces 24.0
Garage Description 24.0
Building
Story 3
New Construction No
Others
Special Listing Condition Standard
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Bought with Dario Svidler Keller Williams Beverly Hills
NEARBY SCHOOLS & BUSINESSES
- 10
Colfax Charter Elementary
Public | KG - 5
- 9
Dixie Canyon Community Charter
Public | KG - 5
- 9
Carpenter Community Charter
Public | KG - 5
- 8
Chandler Learning Academy
Public | KG - 5
- 8
Rio Vista Elementary School
Public | KG - 5
- 8
Toluca Lake Elementary
Public | PK - 5
- 7
Celerity Palmati Charter
Public | KG - 8
- 6
Riverside Drive Charter
Public | KG - 5
- 6
Monlux Elementary School
Public | KG - 5
- 6
Celerity Cardinal Charter
Public | KG - 8
- 5
Kittridge Street Elementary
Public | PK - 5
- 5
Erwin Elementary
Public | KG - 5
- 5
Coldwater Canyon Elementary School
Public | KG - 5
- 5
Burbank Boulevard Elementary
Public | PK - 5
- 5
Victory Boulevard Elementary School
Public | KG - 5
- 5
New Horizons Charter Academy
Public | KG - 8
- 5
Lankershim Elementary School
Public | KG - 5
- 5
Fair Avenue School
Public | KG - 5
- 5
Oxnard Street Elementary School
Public | KG - 5
- 4
Hazeltine Avenue Elementary School
Public | PK - 5
- 7
Walter Reed School
Public | 6 - 8
- 6
Millikan Middle School
Public | 6 - 8
- 5
Madison Middle School
Public | 6 - 8
- 5
Sun Valley Magnet
Public | 6 - 8
- 4
Roy Romer Middle School
Public | 6 - 8
- 0
Harvard-Westlake School
Private | 7 - 12
- 0
Emerson Academy
Private | 6 - 12
- 8
North Hollywood High School
Public | 9 - 12
- 6
Ulysses Grant High School
Public | 9 - 12
- 3
East Valley High School
Public | 9 - 12
- 2
Jack London Community Day
Public | 9 - 12
- 0
Notre Dame High School
Private | 9 - 12
- 0
Academy of Amherst Jr-Sr High School
Private | 10 - 12
- 0
Jack London Continuation
Public | 9 - 12
- 0
Coldwater Canyon Preparatory
Private | 9 - 12
- 0
Valley Torah High School
Private | 9 - 12
- 0
Valley Torah
Private | 9 - 12
- 0
Valley Torah High School Girls' Division
Private | 9 - 12
- 0
Amelia Earhart Continuation
Public | 9 - 12
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