Description

PRICED TO SELL NOW SIGNIFICANT REDUCTION | $8,600,000 | 6.09% CAP RATE. A 2021-Built, 19-Unit Apartment Building with 1,573 SF of Retail in Valley Village Adjacent to NoHo Arts District. Marcus & Millichap is pleased to announce it has been retained as the exclusive listing agent for the sale of Magnolia Nineteen, a newly constructed apartment building with 19 large lofts (ranging from 833-1,287 SF) and 1,573 SF of occupied retail space in the desirable Valley Village neighborhood of the San Fernando Valley of Los Angeles, CA.The exquisitely designed luxury homes feature a mix of lofts and 2-story lofts with high ceilings, large floor to ceiling windows, and luxury appointments that match the demand preferences of the most discerning renter. In the common areas, the Property features a plethora of outdoor courtyard and meeting spaces that include unique touches such as fireplaces, rooftop deck with barbecue, al fresco dining space, and upper sun deck.Magnolia Nineteen's unique location, at the intersection of Magnolia Boulevard and Colfax Avenue, offers a residential vibe akin to single family homes in Valley Village, Studio City (0.75 miles south), and Toluca Lake (1.5 miles southeast), while being within a mile of the heart of the NoHo Arts District and its thousands of jobs and popular entertainment, nightlife, and dining along Lankershim Boulevard. In conjunction with easy access to the 170, 101, 134, and 5 freeways, residents can access 2.7 million jobs within a 30-minute commute.