329 W Magnolia St Compton, CA 90220

$1,500,000 Sold Price as of 07/02/2019
  • 12 Beds
  • 8 Baths
  • 7,132 Sq.Ft.
Off Market
$1,500,000 Sold Price as of 07/02/2019 Refinance Your Mortgage

Map preview of 329 W Magnolia St, Compton, CA 90220

Property Overview: 329 W Magnolia St Compton, CA has 12 bedrooms, 8 bathrooms, 7,132 living square feet and 8,988 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

329 W Magnolia St is currently an off market home in the city of Compton. If you are considering making a home purchase, the value you pay for your home will depend on the market you're looking to purchase in. The city of Compton has a median list price of $625,000. The median price per/sqft for Compton is $507. With those numbers in mind, if you are looking to purchase a median priced home in Compton, CA and put 20% down you will need to save up $125,000 for the down payment and will need roughly $12,500 for closing costs on top of the down payment. Homeowners who are looking to sell their home could expect to pay an average of 5% (2.5% to the listing agent and 2.5% to the buyers agent) in agent commissions when it comes to selling their home. With the median sale price for a home in Compton the commission could be as much as $30,750. If you're thinking of selling and want to save, contact a local Ardent Real Estate Agent today.

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Sale History for 329 W Magnolia St

Last sold for $1,500,000 on July 2nd, 2019
  • August, 2021

  • Aug 31, 2021

    Date

    Price Change

    CRMLS: 21758340

    $1,795,000

    Price

  • Jul 8, 2021

    Date

    Active

    CRMLS: 21758340

    $1,950,000

    Price

  • Listing provided courtesy of CRMLS

    ***PRICE REDUCED $155,000 - SELLER MOTIVATED - 5.33% CAP ON CURRENT INCOME*** We are pleased to present 329 W. Magnolia Street, an 8-unit building located in Compton, California. The building consists of (4) one-bedroom/one-bathroom units and (4) two-bedroom/one-bathroom units. Three of the eight units are currently vacant. Built in 1929, the 7,132 SF building sits on a large 8,988 SF lot. The property includes an office on the second floor which could be converted into a storage or laundry room for the building. Recent improvements include new fire safety system, new windows, new interior unit and hallway flooring, recent interior and exterior paint. The property is zoned CORH.

  • June, 2021

  • Jun 18, 2021

    Date

    Withdrawn

    CRMLS: SB21122161

    $2,099,000

    Price

  • Jun 7, 2021

    Date

    Active

    CRMLS: SB21122161

    $2,099,000

    Price

  • Listing provided courtesy of CRMLS

    VERY MOTIVATED SELLER. ALL OFFERS WILL BE CONSIDERED. TURNKEY PROPERTY. HANDS OFF MANAGEMENT. This 8-unit investment property in downtown Compton, Calif., all units have been renovated during transition from transitional housing to Section 8 housing. Five units recently rented at proforma rent for 2BD/2BA and 1BD/1BA. Section 8 guarantees 70%-75% of rent These are the nicest units in Compton and adjacent cities. Several potential tenants are in the Section 8 application process. All units have been fully updated with $625k in renovations; including a new fire suppression system, new drive way and fencing. Absolutely no deferred maintenance means this building is ready to lease to quality tenants at market value—not a rent control area or an opportunity zone. Management Office available on-site with surveillance cameras. Located in up-and-coming area near lifestyle shopping, local dining spots, grocery stores, and just a few blocks from two large community parks. / The property is approved for section 8 rentals. Guaranteed Rent. / The cap rate reflects proforma Section 8 rents / One tenant subject to eviction when moratorium ends / Visit comptoncity.org for full city info Cash & Cash to New Loan

  • April, 2021

  • Apr 1, 2021

    Date

    Expired

    CRMLS: SB21001745

    $2,450,000

    Price

  • Jan 5, 2021

    Date

    Active

    CRMLS: SB21001745

    $2,450,000

    Price

  • Listing provided courtesy of CRMLS

    This 8-unit investment property in downtown Compton, Calif., has been fully updated with $625k in renovations; including a new fire suppression system, new drive way and fencing. Absolutely no deferred maintenance means this building is ready to lease to quality tenants at market value—not a rent control area or an opportunity zone. Approved Section 8 Housing. Located in up-and-coming area near lifestyle shopping, local dining spots, grocery stores, and just a few blocks from two large community parks. / comptoncity.org for full city info

  • July, 2019

  • Jul 2, 2019

    Date

    Sold (Public Records)

    Public Records

    $1,500,000

    Price

  • March, 2019

  • Mar 1, 2019

    Date

    Expired

    CRMLS: 318003190

    $1,548,000

    Price

  • Sep 20, 2018

    Date

    Price Change

    CRMLS: 318003190

    $1,548,000

    Price

  • Aug 8, 2018

    Date

    Active

    CRMLS: 318003190

    $1,647,000

    Price

  • Listing provided courtesy of CRMLS

    PRICE REDUCTION! Non-rent control - 8 unit apartment building located in the heart of Compton with a 6.41% cap rate!! Monthly income is $12,012. The subject property is a 7,132 square-foot, two-story apartment building situated on an 8,988 square-foot lot. This charming apartment building offers an attractive mix of spacious (4) two-bedroom units and (4) one-bedroom units in a non-rent control area. 6 out of the 8 units have been updated with new flooring, new cabinets, granite counter tops, newly updated bathrooms with vanities and tiling, and updated plumbing. The exterior of the apartment building has new paint, windows and doors. Property has gated parking for 8 cars. Compton is one of L.A.'s hot new markets as it's desirability is apparent to renters and developers alike due to a centralized location; Downtown Compton adjacent near amenities such as City Hall, The Compton Library, Compton Blue Line Station, Compton Towne Shopping and convenient to freeways and schools. This is an opportunity to own an apartment building in the heart of Compton.

  • May, 2017

  • May 2, 2017

    Date

    Sold (Public Records)

    Public Records

    $858,000

    Price

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Tax History for 329 W Magnolia St

Assessed Value (2020): $1,500,000
Year Land Value Improved Value Assessed Value
2020 $300,000 $1,200,000 $1,500,000

About 329 W Magnolia St

Detailed summary of property

329 W Magnolia St is categorized with a use code of Apartment House (5+ Units) in Compton, CA 90220 and last sold on July 2, 2019 for $1,500,000. This property has 12 bedrooms, 8 bathrooms, roughly 7,132 living square feet, and sits on an approximately 8,988 square foot lot. Homes in Compton are selling for a median price of $615,000 and a median price per square foot of $496. Based on Ardent Real Estate Group's Compton Market Data, this home is sold 143.9% higher than the current median priced home. 329 W Magnolia St was last sold on July 2, 2019 for $1,500,000. Local nearby listings include 1224 E 125th St, 2117 N Keene Ave and 167 W Forhan. The average home in Compton, CA is selling in 53 days. There are currently 147 homes for sale in the Compton real estate market and 133 of them are single family homes while 2 of them are condos and 12 are townhomes. If you are the homeowner and looking to sell the home at 329 W Magnolia St Compton, CA 90220 contact Ardent Real Estate Group and we will put you in touch with one of our Compton agents.

Public Facts for 329 W Magnolia St

Public county record property details
Beds
12
Baths
8
Year built
1929
Sq. Ft.
7,132
Lot Size
8,988
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
8,9
APN
6157-017-036

The source for these homes facts are from public records.

90220 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$600,000
Median List Price/Sq.Ft.
$516
Median Sold Price
$575,000
Median Sold Price/Sq.Ft.
$424
Total Inventory
64
Median Sale to List Price %
95.85%
Avg Days on Market
23
Loan Type
Conventional (12.5%), FHA (43.75%), VA (0%), Cash (12.5%), Other (12.5%)

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Data from public records.

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