Closed – Magnificent Craftsman Triplex in Los Angeles | $1,150,000
Stephen Takahashi, Dow Chang, and Kyle Woods just closed 1120 Magnolia Ave, a triplex in Los Angeles!
This property sold for $1,150,000
This magnificent Craftsman triplex has retained all the charm and characters as the day it was built. The owners have done an excellent job in maintaining the original integrity of this beauty. You can see and feel the elegance as you walk through this home with the hardwood floors, the arches, and the doors. Many original wood features are intact and supplemented by matching custom woodwork on the exterior.
The lower level has two units. A 2 bedroom/ 1 bath unit and a separate studio. The second level unit has 3 bedrooms and 1.5 baths.
This is a rare opportunity for an owner/user or an incredible development opportunity. This property falls in the Opportunity Zone and has the potential to develop 11 units (Buyer to Verify).
• Los Angeles is always evolving, butsome neighborhoods change faster than others. Projecting a few years forward, it’s hard to imagine any part of the city looking as different as Koreatown. With new buildings going up left and right, entire blocks could be nearly unrecognizable in a relatively short amount of time.
• Much of the area’s development activity is concentrated around the Wilshire corridor, but a number of projects are also popping up to the north and south.