1034 Magnolia Ave
Gardena, CA 90247
Magnolia Manor · Multifamily Property For Sale · 16 Units

Magnolia Manor Apartments is a 13,156-square foot, 16-unit apartment complex located at 1034 Magnolia Avenue in the medium-dense rental market of Gardena. The subject property sits on a deep 17,504-square foot lot and was built in 1961. The building is two stories with wood frame and stucco construction on a slab foundation. Situated in the City of Gardena the property is not subject to the Los Angeles Rent Control Ordinance, however Gardena does have rent mediation. The subject property consists of (2) studio units, (1) one-bedroom with one-bath unit and (13) two-bedroom with one-bath units. With a desirable location and low rents, historical vacancy rates are low. However, upon turnover management has proactively made necessary repairs and updated select units to current standards including new kitchen cabinets. Units feature gas stoves, gas ovens and gas wall heaters. Refrigerators are tenant owned in all one- and two-bed units. The apartments flank a small courtyard featuring a kidney-shaped pool. For tenant convenience, the property features an updated rear laundry room with two washers and two dryers owned by the building. Furthermore, there are laundry hookups in the front two-car garage. There is controlled access entry to the building and gated parking for added security to the residents. Parking is available for 18 cars utilizing carport, tuckunder, garage and uncovered parking. The building is separately metered for gas and electric and has solar panels on the roof to reduce utility expenses. The central water heater was replaced in 2017. The subject property offers tenants immediate access to local conveniences including Vons, Walgreens, Starbucks and easy access to all of Los Angeles via the 110, 405 and 91 Freeways.