12032 Magnolia Blvd Valley Village, CA 91607
5-Units in Prime Valley Village
SOLD: $1,355,000 CAP RATE: 4.2% GRM: 13.82 PRICE PER SQUARE FOOT: $369
We are pleased to announce the sale of 12032 Magnolia Blvd a rarely traded 5 unit multifamily asset located in one of the most sought after pockets of Valley Village adjacent to Studio City and North Hollywood. The property sold for $1,355,000 reflecting a 4.2% cap rate a 13.82 GRM and a $369 price per square foot.
The building sits on a 6,820 square foot lot and offers 3,670 square feet of rentable space with a desirable unit mix consisting of one 2 bedroom 1 bathroom unit and four 1 bedroom 1 bathroom units. The asset is positioned within close proximity to an array of shopping dining and entertainment options making it highly attractive to long term renters.
This unique property presented a compelling value add opportunity with over 26% upside in market rents allowing a new owner to increase income through strategic repositioning. Its infill location limited supply and strong rental fundamentals made it a trophy acquisition within the Valley Village submarket.
David Saghian represented the seller in this transaction.
Investment Highlights
Prime Valley Village location adjacent to Studio City and North Hollywood in a tightly held rental pocket
Sold for $1,355,000 reflecting a 4.2% cap rate a 13.82 GRM and $369 per square foot
Five unit property featuring a desirable mix of two bedroom and one bedroom units
Value add opportunity with over 26% upside in market rents
6,820 SF lot with 3,670 SF of rentable space offering long term redevelopment optionality
Rarely traded asset in a high demand corridor
Seller represented by David Saghian
Exclusively Listed & Sold By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com