1324 Magnolia Avenue, Los Angeles, California 90006, Los Angeles, 90006 - 0 bed, 0 bath
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Los Angeles, California 90006
This Residential Income Triplex represents a Strong Value Opportunity, listed at $879,000—positioned well below the $962,579 Fair Market Value by 8%. This valuation gap provides $83,579 in Instant Equity. Currently in Functional Condition, the asset features a high-yield configuration of a six-room main house plus two studios, complemented by rare 8-car parking and proximity to West Adams Preparatory High. This is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants looking to house-hack in a high-demand rental market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1324 Magnolia Avenue Subject | $850,000* List Price | 0 | 0 | 2,536 | $347 | - |
A 1713 S Berendo Street Sold | $679,000 | 0 | 0 | 1,900 | $357 | 0.5 mi |
B 1311 Dewey Avenue Sold | $875,000 | 0 | 0 | 2,041 | $429 | 0.6 mi |
C 1437 Bonnie Brae Street Active | $998,000 List Price | 0 | 0 | 2,567 | $389 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1898, this property is functional and currently income-generating but shows clear signs of age and heavy use. The kitchens and bathrooms feature dated cabinetry, older appliances, and basic fixtures that lack modern updates. While the roof is reported to be in good condition and the property is habitable, the interior finishes, including flooring and light fixtures, are outdated and consistent with a property maintained through basic upkeep rather than comprehensive renovation.
The property features a unique 3-unit setup including a 6-bedroom main house rented by the room plus two studios, offering a diversified and steady stream of rental income.
Rare for the Pico Union area, the property includes a long driveway and concrete front yard accommodating up to 8 vehicles, plus convenient rear alley access.
Situated in Mid-Los Angeles, the property boasts excellent proximity to major freeways, shopping centers, and essential public services, ensuring high tenant demand.
The owner is responsible for water for all units and full utilities for the six individual room tenants, which significantly impacts net operating income and profit margins.
Originally constructed in 1898, the property's age may necessitate ongoing capital expenditures for aging infrastructure and systems typical of 19th-century builds.
***HUGE PRICE REDUCTION on LUCRATIVE Income Property (7% CAP) for Quick Sale!*** Fantastic Opportunity to Own 3-Unit Apartment with a Flow of Steady Income, Conveniently Located in 'Pico Union' Section of Mid Los Angeles! Close to Post Office, Markets, Restaurants, Shopping Centers, Banks, Freeways, and SS Office. 3 units are Consisted of a Large, High Ceiling SFR (#1324, All of 6 Rooms Individually Rented) + 2 Attached Studios of Over 2,500 LV sqft. All Units Are Currently Rented. All 6 Bedrooms in SFR Have 2 Full Bathrooms and a 1/4 Bathroom. Includes Spacious Kitchen and Long Hallway with Temp. Storage Space. There is also a Crawl Space for Extra Storage. Each Studio (#1326 & #1328) Has its Own Bath & Kitchen. Roofing is in Good Condition. Owners Pay Water for All Tenants, and Both Studio Units Pay Electricity & Gas Utilities. But SFR Room Tenants' Other Utilities are Included in Rent. Long Driveway & Concrete Floor Front Yard Allow Max of 8 Cars to Park. There is also an Entrance from Alley East of Property. Owner is Currently Managing the Property Independently. A Must-See Property with Great Potential!
No exterior & parking available.
Grades K-6 • 0.2 mi
Grades K-5 • 0.3 mi
Grades K-5 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,536 | 1,900 | 80% |
| Lot Size | 6,101 | 5,100 | 60% |
| Price | $850.0K | $840.0K | 60% |
| Price per sq ft | $335 | $429 | 20% |
| Built year | 1898 | 1922 | 20% |
| HOA | $0 | $0 | 50% |
| Days on market | 61 | 203 | 20% |
Apr 15, 2026
$850,000
$879,000
-3% Price Drop
Initial Listing
Feb 20, 2026
$879,000
Initial Listing
Feb 17, 2012
$300,000
Public Record
Dec 19, 2002
$1,000
Public Record
Jan 18, 2000
$160,000
Public Record