$5,200,000
SOLD MAR 7, 2025

1029 Magnolia Ave Gardena, CA 90247

1 Bed
1 Bath
17,456 Sq Ft
0.66 Acres

Recently Sold

$298 Per Sq Ft

5% Below List Price

Highlights

  • 0.66 Acre Lot
  • No HOA
  • South Facing Home
  • Traditional Architecture
  • Laundry Room
  • Wall Furnace

About This Home

As of March 2025

28-unit apartment building. All 1 bed/1 bath.
Posted for comparable purposes.

Last Agent to Sell the Property

Rob McGarry

Vista Sotheby’s International Realty Brokerage Phone: 310-463-8488 License #01356525 Listed on: 03/07/2025

Last Buyer's Agent

Jonathan Nikfarjam

Shield CRE, Inc. License #01856803

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1973

Lot Details

  • 0.66 Acre Lot
  • Two or More Common Walls
  • South Facing Home

Home Design

  • Traditional Architecture
  • Apartment
  • Flat Roof Shape
  • Raised Foundation
  • Stucco

Interior Spaces

  • 17,456 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Bathroom

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Parking

  • Parking Available
  • Assigned Parking

Utilities

  • Wall Furnace
  • Natural Gas Connected

Listing and Financial Details

  • Tax Lot 5
  • Assessor Parcel Number 6113035031
  • Seller Considering Concessions

Community Details

Overview

  • No Home Owners Association
  • 28 Units

Amenities

  • Laundry Facilities

Building Details

  • 28 Leased Units
  • 1 Separate Electric Meter
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $42,372
  • Fuel Expense $22,372
  • Insurance Expense $12,716
  • Maintenance Expense $84,000
  • Professional Management Expense $48,304
  • Trash Expense $10,000
  • Water Sewer Expense $10,000
  • New Taxes Expense $60,000
  • Operating Expense $289,764
  • Gross Income $552,803
  • Net Operating Income $263,039

Property Details

Home Type

Multi-Family

Year Built

Built in 1973

Lot Details

0

Listing Details

  • Assessments: Yes
  • CapRate: 4.78
  • Price Per Unit: 196429
  • Professional Management Expense: 48304.00
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • View: No
  • Water Sewer Expenses: 10000.00
  • Zoning: GAR3
  • Architectural Style: Traditional
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 6113035031
  • Year Built: 1973
  • AgentOnly_SellerConsiderConcessionYN: Yes
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 2
  • Entry Location: 1
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 297.89

Exterior Features

  • Direction Faces: South
  • Foundation: Raised
  • Pool Private: No
  • Roof: Flat
  • Construction Materials: Stucco

Garage/Parking

  • Parking: Yes
  • Parking Features: Assigned

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Electric: Standard
  • Heating Type: Wall Furnace
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 10000.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Amenities: Sewer
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Storm Drains

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 20000-39999 Sqft
  • Lot Size Sq Ft: 28726.00
  • Lot Size Acres: 0.6595

Rental Info

  • Tenant Pays: None

Multi Family

  • Average1 Bed Area: 623 Square Feet
  • Electric Expense: 42372.00
  • Fuel Expense: 22372.00
  • Gross Income: 552803.00
  • Gross Multiplier: 10.00
  • Gross Scheduled Income: 552803.00
  • Insurance Expense: 12716.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 400.00
  • Lot Size Area: 28726.0000 Square Feet
  • Maintenance Expense: 84000.00
  • Net Operating Income: 263039.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 28
  • Number Of Units Total: 28
  • Number With Range: 28
  • Operating Expense: 289764.00
  • Rent Control: No
  • Total Actual Rent: 552803.00
  • Total Expenses: 289764.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 60000.00
  • Tax Census Tract: 6031.01
  • Tax Lot: 5
  • Tax Tract Number: Gar

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/17/2025 06/17/25 Price Changed $1,950 -2.5% --
06/16/2025 06/16/25 Price Changed $2,000 -4.8% --
06/12/2025 06/12/25 Price Changed $2,100 +7.7% --
06/10/2025 06/10/25 For Rent $1,950 0.0% --
03/07/2025 03/07/25 Sold $5,200,000 -5.5% $298 / Sq Ft
03/07/2025 03/07/25 For Sale $5,500,000 -- $315 / Sq Ft
03/06/2025 03/06/25 Pending -- -- --
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Rob McGarry

    Seller's Agent in 2025

    Rob McGarry

    Vista Sotheby’s International Realty

    (310) 463-8488

    2 in this area

    82 Total Sales

    Section Image
  • Jonathan Nikfarjam

    Buyer's Agent in 2025

    Jonathan Nikfarjam

    Shield CRE, Inc.

    (310) 880-6807

    6 in this area

    72 Total Sales

    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB25047395

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Gardena 90247

1029 Magnolia Ave, Gardena, CA

This home is located at 1029 Magnolia Ave, Gardena, CA 90247 and is currently priced at $5,200,000, approximately $297 per square foot. This property was built in 1973. 1029 Magnolia Ave is a home located in Los Angeles County with nearby schools including Amestoy Elementary School, Robert E. Peary Middle School, and Gardena Senior High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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