Magnolia Properties acquired 5919 Woodruff, a 4-unit multifamily property in Lakewood, CA, on October 16, 2024. We are currently undertaking extensive renovations on the existing four units and securing permits for four new Accessory Dwelling Units (ADUs), which will be constructed above expanded covered parking at the rear of the property. Upon completion of renovations, we plan to raise rents on the existing units by approximately 75% to align with current market rates. The four new ADUs will consist of three 1-bedroom units and one 2-bedroom unit, transforming the property into a 8-unit multifamily residence upon completion.

This property enjoys a desirable location directly across from Mayfair High School and Middle School and just a few doors down from Saint Joseph High School. Residents benefit from easy walkability to an array of shops and restaurants at the nearby South Street intersection which including Vons and Starbucks among other local restaurants and shopping.