Magnolia Duo

Jones Lang LaSalle Americas, Inc., as exclusive advisor, is pleased to present for sale the Magnolia Duo (the “Portfolio”), a rare 79- unit Portfolio located in the coveted Sherman Oaks neighborhood of Los Angeles, CA. The Magnolia Duo consists of two separate assets located three-blocks from one another along Magnolia Boulevard: Magnolia, 49 one- and two-bedroom homes and Magnolia Townhomes, 30 three- and four-bedroom homes.

Delivered in 2013, the Magnolia Duo introduced luxury rental living to the high barrier to entry Sherman Oaks neighborhood, and as a result has exhibited a history of strong performance evidenced by trailing-3 month average occupancy of ±99%. The Portfolio offers residents expansive, open floor plans averaging ±1,381-SF that are still in original condition and therefore are ripe for renovation to modern standards. Key in-unit renovation possibilities include new stainless-steel appliances, class A quartz countertops, luxury cabinetry and hardware, replacement of bedroom carpeting with high-quality vinyl plank flooring, tiled walk-in showers amongst others in order to close the gap to new construction rents. Outside of the home, Magnolia features a full suite of community amenities including a relaxing pool and spa, fitness center, community lounge and business center and more. Both communities feature lush landscaping in resident courtyards, outdoor BBQ grills and al-fresco dining, and ample access-controlled on-site parking.

The Magnolia Duo presents an exclusive opportunity to acquire a diverse, quality unit mix in the high cost of living Sherman Oaks neighborhood. With an average single-family home sales price in Sherman Oaks being $2.1M, ±40% above the Los Angeles average, the Portfolio holds desirable market positioning offering tenants access to this sought-after neighborhood at a fraction of the price of homeownership. Additionally, over the past five years, only three new multi-housing projects have been delivered in Sherman Oaks (±2% of inventory) resulting in a favorable supply-demand imbalance.